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Accounting & Auditing Update

The "Accounting & Auditing Update" is written by Tammy Whitehouse, a veteran business writer who has been a regular contributor to Compliance Week since 2005. Her work has also appeared in industry journals and periodicals including Journal of Business Strategy, Strategy & Leadership, Compensation & Benefits Review, Inc, Buyside, and myriad others. Whitehouse welcomes questions and comments from readers; she can be reached via e-mail at twhitehouse@complianceweek.com.
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Accounting & Auditing Update Blog
FASB preps CECL edit to allow more fair value
Tammy Whitehouse | February 11, 2019
To make it easier for companies to adopt CECL for credit losses, FASB is considering a change that would permit more use of fair value.
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Accounting & Auditing Update Blog
FASB hears CECL concerns, plans March meeting date
Tammy Whitehouse | January 29, 2019
Making no promises about what action, if any, it will take, FASB will meet in March to discuss the CECL standard on credit losses.
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Accounting & Auditing Update Blog
FASB issues Q&A on CECL method, sets roundtable date
Tammy Whitehouse | January 11, 2019
To answer CECL implementation questions, FASB issued a Q&A focusing on the weight average remaining maturity, or WARM, method some entities are exploring.
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Accounting & Auditing Update Blog
Banking regulators approve CECL relief measure
Tammy Whitehouse | December 19, 2018
Banking regulators issued some relief for banks worried about the effects of adopting CECL, but bankers are still concerned it won’t go far enough.
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Accounting & Auditing Update Blog
FASB proposes updates to financial instrument rules
Tammy Whitehouse | November 27, 2018
FASB has issued a proposal to amend rules on three major standards on financial instruments to address clarity and implementation issues.
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Accounting & Auditing Update Blog
FEI group provides guides on leases, CECL controls
Tammy Whitehouse | November 16, 2018
FEI’s corporate reporting group has developed its own guides for preparers on how to assure sound controls with major new accounting adoptions.
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Accounting & Auditing Update Blog
Despite calls to delay CECL, FASB plans amendments
Tammy Whitehouse | November 9, 2018
FASB has decided to follow the advice of an advisory group and make some changes to CECL to address implementation issues.
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Accounting & Auditing Update Blog
FASB tees up CECL issues, but not deferral
Tammy Whitehouse | November 2, 2018
The FASB will meet to discern implementation issues associated with CECL, but the possibility of a deferral in the effective date is not on the agenda.
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Accounting & Auditing Update Blog
SEC will watch for SAB 74 disclosure leading to CECL
Tammy Whitehouse | September 21, 2018
The SEC will be looking for increasingly detailed disclosures to investors about the expected effects of moving to a new method for recognizing credit losses.
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Accounting & Auditing Update Blog
FASB takes red pen to rules on financial instruments
Tammy Whitehouse | September 7, 2018
The Financial Accounting Standards Board is planning a number of updates to accounting standards around all three of its major new standards on financial instruments.
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Accounting & Auditing Update Blog
FASB proposes amendments to CECL standard
Tammy Whitehouse | August 21, 2018
The Financial Accounting Standards Board is proposing some amendments to the pending new standard on credit losses.
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Accounting & Auditing Update Blog
CECL readiness spans the full spectrum, new poll shows
Tammy Whitehouse | July 20, 2018
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.
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Accounting & Auditing Update Blog
SAB 74 disclosures still lag, PwC analysis shows
Tammy Whitehouse | June 13, 2018
Investors are not getting much warning about assets and liabilities soon to hit corporate balance sheets as companies prepare to adopt new lease accounting rules.
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Accounting & Auditing Update Blog
FASB staff plan to suggest CECL edits to answer questions
Tammy Whitehouse | June 7, 2018
FASB staff plan to suggest narrow changes to the new standard on credit losses to answer implementation questions on classification changes, interest, and more.
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Accounting & Auditing Update Blog
Is IFRS 9 shaking up U.S. activity to adopt CECL?
Tammy Whitehouse | February 19, 2018
Accounting activity at publicly held financial institutions apparently is picking up to prepare for new requirements for the recognition of loan losses.
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Accounting & Auditing Update Blog
SEC tasks audit committees to set tone for accounting changes
Tammy Whitehouse | October 19, 2017
Audit committees take note: SEC is putting a lot of faith in you to set the tone for corporate adoption of major changes in accounting requirements.
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Accounting & Auditing Update Blog
Half say revenue rule is immaterial, one-fifth still evaluating
Tammy Whitehouse | September 15, 2017
A PwC analysis shows about half of Fortune 500 companies expect revenue recognition changes to be immaterial, but nearly 20 percent are still evaluating.
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Accounting & Auditing Update Blog
Bank regulators back scaling of CECL model for smaller banks
Tammy Whitehouse | January 18, 2017
Bank regulators issued a year-end Q&A on new credit loss rules to assure examiners and institutions understand that scaled modeling of loan loss allowances is permitted. Tammy Whitehouse explores.
Displaying 18 results