Accounting & Auditing Update

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.

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.

The Financial Accounting Standards Board is proposing some amendments to the pending new standard on credit losses.

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.

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.

FASB staff plan to suggest narrow changes to the new standard on credit losses to answer implementation questions on classification changes, interest, and more.

Accounting activity at publicly held financial institutions apparently is picking up to prepare for new requirements for the recognition of loan losses.

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.

A PwC analysis shows about half of Fortune 500 companies expect revenue recognition changes to be immaterial, but nearly 20 percent are still evaluating.

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.