Tammy Whitehouse

FASB is proposing new clarifications to its previously issued standards on the recognition and measurement of financial instruments and on leases.

Evidence is mounting that companies are way behind in complying with new revenue rules, prompting predictions of late filings, internal control weaknesses, even restatements.

The PCAOB is asking for a new round of public comment on a revised proposed standard that seeks to raise the bar on how audit firms supervise outside auditors.

Just as new rules on revenue recognition required some tweaking as companies prepared to implement them, so apparently do the new rules on lease accounting.

As the fourth quarter approaches, companies are expected to break into a sprint to complete their efforts to adopt new revenue recognition requirements.

Deloitte says information on a small number of clients was accessible to hackers after an intrusion of the firm’s email platform.

Companies affected by recent natural disasters may need to consider the effects on their accounting, financial reporting, and tax compliance.

The FASB plans to distinguish liabilities from equity in financial statements to make the accounting rules less complex and easier to understand.

A Deloitte poll suggests new revenue recognition accounting requirements taking effect next year may put a chill on initial public offerings.