A pair of new poll results suggest anxiety is growing at public companies that have five months remaining until new lease accounting rules take effect.
Tammy Whitehouse
Posted inAccounting & Auditing
FASB approves huge simplification to lease rules
FASB has finalized an enormous simplification of the pending new lease accounting standard, permitting companies to forego historic presentations.
Posted inAccounting & Auditing
Non-GAAP reporting smooths currency-driven volatility
As trade and tariff wars wage on, companies use non-GAAP accounting to try to explain the resulting currency volatility in reported financial results.
Posted inAccounting & Auditing
Audit leaders issue statement to new audit recruits
As a new crop of college graduates joins the audit profession, U.S. audit leaders issued a joint statement to sell them on the viability of their career path.
Posted inAccounting & Auditing
Global accountants get new ethics rule on incentive payments
Accountants globally have new rules to follow around offering or accepting inducements, and they’re a little more explicitly stated than those for U.S. accountants.
Posted inAccounting & Auditing
CAQ: Control deficiencies not CAMs, but could be tied to one
A significant deficiency in internal control over financial reporting will not automatically constitute a critical audit matter that auditors will have to disclose under a new auditing standard, but it could suggest auditors will disclose a CAM related to the underlying accounting, said the Center for Audit Quality.
Posted inAccounting & Auditing
CECL readiness spans the full spectrum, new poll shows
Banks appear all over the spectrum in terms of their readiness for CECL, with equal numbers implementing the new model or still in the early stages, a new poll says.
Posted inAccounting & Auditing
Revenue 2.0: Work continues to adapt to new rules
Even after calendar-yer companies have filed their first-quarter reports reflecting a new way to recognize revenue, work continues to adapt to the new rules.
Posted inAccounting & Auditing
FASB approves tweaks to lease accounting standard
The Financial Accounting Standards Board has finalized a number of improvements to its new guidance on lease accounting, which public companies are working to adopt in 2019.
Posted inAccounting & Auditing
Companies plan to automate internal controls, poll says
Companies are migrating toward automating their internal control over financial reporting, according to a recent survey by Financial Executives Research Foundation.
