Mondaq USA: Accounting and Audit > Accounting Standards
Carlton Fields
The SEC has proposed for comment major revisions in the disclosures auditors are required to make in their reports on financial statements audited pursuant to PCAOB standards.
Jones Day
In 2014, the US FASB issued new revenue standards under ASC 606, Revenue from Contracts with Customers, which essentially replaced existing revenue recognition requirements under U.S. generally accepted accounting principles.
Jones Day
Many companies have yet to disclose a selected methodology for, or an estimate of the financial impact of, implementation of New GAAP revenue recognition.
Morrison & Foerster LLP
Rule 3520 adopted by the Public Company Accounting Oversight Board (PCAOB) requires an auditing firm and its associated persons to be independent of their audit clients.
Cadwalader, Wickersham & Taft LLP
SEC Deputy Chief Accountant Sagar Teotia discussed the implementation of new Generally Accepted Accounting Principles ("GAAP") on revenue recognition, leases and measurement...
Baker Tilly
The US Financial Accounting Standards Board (FASB) has issued proposed Accounting Standards Update (ASU), Technical Corrections and Improvements to Topic 942, Financial Services —Depository and Lending: Elimination of Certain Guidance for Bad Debt Reserves of Savings and Loans.
Cadwalader, Wickersham & Taft LLP
SEC Chief Accountant Wesley Bricker discussed (i) the role of financial reporting in financial markets, (ii) the Financial Accounting Standards Board ("FASB") credit losses standard-setting efforts...
Morrison & Foerster LLP
On August 22, 2017, Stephen Deane, CFA, Investor Engagement Advisor, Office of the Investor Advocate, gave a speech addressing two proposed updates issued by FASB in 2015 (one that would apply to GAAP...
Brown Smith Wallace
Are you frustrated by complex accounting jargon? In the July 2017 issue of The Accounting Review, the American Accounting Association (AAA) published findings from a study it conducted...
Cadwalader, Wickersham & Taft LLP
The SEC updated preexisting accounting guidance to conform to Financial Accounting Standards Codification Topic 606 ("Revenue from Contracts with Customers").
Cadwalader, Wickersham & Taft LLP
The SEC settled charges against an accounting firm for failing to properly audit an oil company in 2011.
Ostrow Reisin Berk & Abrams
In an effort to provide more useful information to donors, grantors, creditors and other users of the financial statements, the Financial Accounting Standards Board (FASB) released ASU 2016-14...
Ostrow Reisin Berk & Abrams
Which accounting method should a business use for tax purposes?
Ostrow Reisin Berk & Abrams
In an effort to provide more useful information to donors, grantors, creditors and other users of the financial statements, the Financial Accounting Standards Board (FASB) released ASU 2016-14...
Shearman & Sterling LLP
On 1 June 2017, the Public Company Accounting Oversight Board ("PCAOB") adopted new standard S 3101, The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion.
Duff and Phelps
In January 2017, FASB issued ASU 2017-04 which eliminates Step 2 of the current goodwill impairment test under ASC 350.
Dechert
Just when you thought it was safe to go out at night again, another reason not to deploy capital is slouching into Bethlehem.
Dechert
The ASB of the American Institute of Certified Public Accountants recently released new standards as part of the "Attestation Clarity Project" with the goal of redrafting all its standards "in clarity format" ...
Brown Smith Wallace
What has changed for Service Organization Controls (SOC) reports and attestation engagements in SSAE No. 18? The Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants...
Andrews Kurth LLP
While building a public company, start-up or family business, day-to-day operations and growth objectives tend to consume most of management's time and effort.
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Jones Day
In 2014, the US FASB issued new revenue standards under ASC 606, Revenue from Contracts with Customers, which essentially replaced existing revenue recognition requirements under U.S. generally accepted accounting principles.
Cadwalader, Wickersham & Taft LLP
SEC Chief Accountant Wesley Bricker discussed (i) the role of financial reporting in financial markets, (ii) the Financial Accounting Standards Board ("FASB") credit losses standard-setting efforts...
Jones Day
Many companies have yet to disclose a selected methodology for, or an estimate of the financial impact of, implementation of New GAAP revenue recognition.
Baker Tilly
The US Financial Accounting Standards Board (FASB) has issued proposed Accounting Standards Update (ASU), Technical Corrections and Improvements to Topic 942, Financial Services —Depository and Lending: Elimination of Certain Guidance for Bad Debt Reserves of Savings and Loans.
Cadwalader, Wickersham & Taft LLP
SEC Deputy Chief Accountant Sagar Teotia discussed the implementation of new Generally Accepted Accounting Principles ("GAAP") on revenue recognition, leases and measurement...
Morrison & Foerster LLP
Rule 3520 adopted by the Public Company Accounting Oversight Board (PCAOB) requires an auditing firm and its associated persons to be independent of their audit clients.
Brown Smith Wallace
For companies in many industries, implementing the new FASB's landmark revenue recognition standard is likely to be more time-consuming, complex and costly than management expected.
The Brattle Group, Inc.
The reporting of non-GAAP measures, such as adjusted EBITDA or adjusted earnings per share, in companies' public filings and news releases has increased steadily over the past few decades and is currently at a historic high.
Ostrow Reisin Berk & Abrams
Two major accounting rule changes will soon go into effect and they are expected to have major impacts on how many manufacturers and distributors report their financial results.
Jones Day
On December 2, 2016, a Delaware Chancery Court held that the courts had no role in considering a purchase price adjustment dispute based on "plain language of the purchase agreement" . . .
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