November 16th, 2010
November 2010 Significant negative feedback from legal executives and groups caused the Financial Accounting Standards Board (FASB) to delay implementing expanded financial statement disclosures [...]
July 16th, 2009
July 2009 Although there has often been a call for simplified accounting principles for smaller or non-public enterprises, U.S. generally accepted accounting principles (GAAP) do [...]
June 16th, 2009
June 2009 In accounting, revenue recognition refers to the point when one is able to record a sale in the financial statements. In a typical [...]
June 16th, 2009
June 2009 Existing accounting guidance permits companies to report transfers of portions of financial assets as sales. The off-balance-sheet entities that enabled banks to keep [...]
May 16th, 2009
May 2009 On July 1, 2009, the Financial Accounting Standards Board (FASB) is expected to issue their “Accounting Standards Codification” (ASC) as the sole authoritative [...]
April 16th, 2009
April 2009 An accounting pronouncement highly criticized by the legal profession was formally revoked this month. The Financial Accounting Standards Board (FASB) issued FSP FAS [...]
June 18th, 2008
June 2008 The Financial Accounting Standards Board (FASB) proposed expanded disclosures regarding contingencies, most notably those arising from litigation. Unless delayed or altered, litigators [...]
November 16th, 2007
November 2007 Last week, the Securities and Exchange Commission (SEC) eliminated its requirement for international companies to reconcile financial statements prepared under the International [...]
August 16th, 2003
August 2003 In late July 2003, the Securities and Exchange Commission (SEC) released a staff study required by Section 108(d) of the Sarbanes-Oxley Act. [...]