After rising significantly at the end of 2011 and the beginning of 2012, CPA business leaders’ optimism over the US economy has faded substantially in recent months, according to the latest American Institute of CPAs (AICPA) Business & Industry Economic Outlook Survey.
The US Financial Accounting Standards Board (FASB) is crafting a new expected credit loss impairment model in hopes of moving forward again in the joint accounting for financial instruments project the board is pursuing with the International Accounting Standards Board (IASB).
Despite worries about the euro-zone crisis and the economic slowdown in China, Australian CFOs remain bullish on economic growth and their companies’ hiring plans.
The US Securities and Exchange Commission (SEC) approved disclosure rules designed to increase transparency around companies’ use of so-called “conflict minerals” and payments to governments for access to natural resources.
A new US public company auditing standard deems robust, two-way communication between external auditors and audit committees to be essential to high-quality audits. Experts say the standard, which must be approved by the SEC, reflects and codifies the healthy dialogue that has existed between auditors and audit committees for years.
Former US Sen. Paul Sarbanes and former US Rep. Michael Oxley say the regulations they sponsored and saw signed into law a decade ago are not perfect, but led to changes in the corporate culture in the United States and abroad.
More scrutiny during audits, transfer-pricing issues and rapid changes in international tax legislation top the list of global tax challenges in a survey of multinational companies. A global consortium of consultants takes a look at the tax issues and offers advice.
The IFRS Foundation is changing its constitution to reflect the separation of the roles of the foundation’s CEO and the chairman of the International Accounting Standards Board (IASB).
Accountants may have difficulty at times determining what constitutes “more than insignificant” consumption of a leased asset by a lessee under a proposed standard being jointly developed by the US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB).
The International Integrated Reporting Council has taken an important step toward guiding businesses to think in nonfinancial terms when issuing financial reports. The IIRC’s outline comes after an initial discussion paper on the reasons companies should consider social and environmental impact in addition to financial performance.
This decade, Asian companies are projected to expand rapidly across the globe. A poll of more than 600 business executives in East and Southeast Asia provides clues about their business growth strategies and how they plan to face potential growing pains along the way.
As expected, a report released Friday by the US Securities and Exchange Commission (SEC) did not contain a recommendation on whether US public companies should be allowed or required to adopt IFRS for their financial reporting.
Although the release of a long-awaited US Securities and Exchange Commission (SEC) staff report discussing IFRS adoption is imminent, uncertainty over the issue appears certain to linger.
Unfunded pension liabilities will begin appearing on the balance sheets of US state and local governments that provide defined benefit pensions under provisions of two standards approved by the US Governmental Accounting Standards Board (GASB).
A rule approved by the US Securities and Exchange Commission directs national securities exchanges to implement listing standards for public company boards of directors and compensation advisers. The rule, required by the Dodd-Frank Act, addresses the independence of compensation committee members and advisers.
Accounting standard setters agreed Wednesday on a lessee accounting approach, setting the stage for a lease accounting exposure draft in the fourth quarter this year.
