Tammy Whitehouse

International and U.S. accounting rulemakers have updated their agreement to shore up differences in their accounting rule books to help facilitate the U.S. adoption of international rules. The International Accounting Standards Board and the U.S. Financial Accounting Standards Board published an update to the 2006 Memorandum of Understanding to review progress they’ve made and to […]

Numerous delays extended to smaller companies in the requirement to report on the effectiveness of internal control did nothing to improve their chances for success. That’s the conclusion of a recent Lord & Benoit report examining the first go-round of internal control reports for more than 3,300 smaller, non-accelerated filers. The firm found evidence that […]

A study this week from the Georgia Tech Financial Analysis Lab provides some indication of why companies may be eager to shed the complexities of U.S. Generally Accepted Accounting Principles and flock to a more flexible international rule book. The lab examined hedge accounting practices at 50 companies and came up with explicit reasons they […]

Less than one-fourth of college accounting professors can incorporate international accounting rules into their accounting instruction this year in any significant way, according to the results of a survey of 535 accounting faculty conducted by the American Accounting Association and KPMG. Just 22 percent said they are ready to teach International Financial Reporting Standards now, […]

The Financial Accounting Standards Board is planning to update guidance on how to account for events that occur after the balance sheet date and how an entity should assess its ability to continue as a going concern. The board planned to bring the topics out of auditing literature and codify them to U.S. Generally Accepted […]

A Deloitte analysis of fair value reporting for 50 public companies concluded more assets are moving into the gray area of “level 3” valuations, where market pricing has little to no bearing on the values companies place on their financial assets and financial liabilities. Deloitte studied the 10-Qs of 50 companies in banking, insurance, investment, […]

If you’re chomping at the bit to review and comment on the Financial Accounting Standards Board’s plans to revised off-balance-sheet accounting, mark Sept. 15 on your calendar. That’s the date FASB has signaled it will publish three separate exposure drafts to overhaul off-balance-sheet reporting of special interest entities. Specifically, FASB said it will publish exposure […]

The market for auction rate securities has been seized up for months, but ARS holders continue to paint very different pictures about the value and long-term prospects for their securities, according to an analysis of 600 public company filings. Joseph Floyd, head of financial consulting for the Huron Group, recently pored over the auction rate […]