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A new group devoted to dealing with transition issues related to the new, converged revenue recognition standard will meet twice in 2014 and four times in 2015.
Financial statement preparers are embarking on a daunting task as they begin to ramp up for implementation of the new, comprehensive, converged standard on revenue recognition.
As organisations look to expand in emerging markets, they increasingly must decide whether to hire locally or send somebody from the home office. Each has its own set of unique challenges and benefits. CGMA road warriors offer their insights.
Many companies are going to find that the attention of finance and accounting will not be enough to ensure successful implementation of the new revenue recognition standard.
Members of the US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have a good sense of the most important things to consider as a result of the new standard, beyond the obvious takeaway of greater comparability across industries and jurisdictions.
Availability of key skills is the biggest threat to organisations’ growth, according to 63% of CEOs in a PwC survey. That’s an increase of five percentage points from last year. The report lists five priorities that can help CEOs and other stakeholders combat a lack of talent.
Changes to international auditing standards proposed last week by the International Auditing and Assurance Standards Board (IAASB) are designed to clarify expectations of auditors when auditing financial statement disclosures.
Amendments to IFRS 11, Joint Arrangements, specify the appropriate accounting treatment for an acquisition of an interest in a joint operation that constitutes a business.
Companies may face a serious time crunch with implementation of the new, converged financial reporting standard for revenue recognition despite a seemingly long transition period.
A new International Auditing and Assurance Standards Board (IAASB) re-proposal is intended to clarify and strengthen auditors’ responsibilities related to “other information” that is included in organisations’ annual reports outside the audited financial statements.
An effort to create a more accurate depiction of risk-management activities known as “macro hedging” in financial reporting is reflected in a discussion paper released by the International Accounting Standards Board.
The European Parliament adopted a directive that would require large public-interest entities to make certain non-financial disclosures on environmental and social issues.
The International Accounting Standards Board issued a proposal that would amend accounting rules as part of a broader initiative to make financial reporting disclosures more relevant.
New accounting and reporting requirements for entities with insurance contracts published by the UK Financial Reporting Council (FRC) are intended to provide interim guidance in UK and Irish GAAP while the International Accounting Standards Board (IASB) completes its insurance contracts project.
The US Financial Accounting Standards Board and the International Accounting Standards Board failed to reach a consensus for new lease accounting guidance but vowed to continue working together in pursuit of consistency.
The US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are struggling to find common ground in their efforts to create a converged standard for financial reporting on leases.
