- About CW
- Topics
- Events
- Research
- Membership
“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
FASB Proposes Changes to Business Definition
FASB is proposing some clarifications to how a business is defined, to help companies following accounting rules related to acquisitions, disposals, goodwill, and consolidation. The board says stakeholders have reported that applying the current definition, as spelled out in U.S. Generally Accepted Accounting Principles, sweeps in transactions that don’t really ...
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
Article
Is it a business or an asset? Companies get new guidance
Companies will have some new analysis to do to assure their accounting for business transactions reflects a new definition of “business” in GAAP. Tammy Whitehouse has more.
-
Article
Amid Financial Reporting Changes, SEC Offers Cautions
With changes looming on accounting standards for revenue recognition, leases, financial instruments, and more, skittish corporate accountants often turn to the SEC’s Division of Corporation Finance and staff accountants, relying on phone briefings and pre-clearing consultations to get ahead of financial reporting issues before they result in an SEC comment ...
-
News BriefFRC launches probe into MacIntyre Hudson’s 2022 audit of collapsed LSG
The U.K. Financial Reporting Council has launched an investigation into MacIntyre Hudson’s audit of collapsed construction company ISG Limited, which abruptly entered administration in September, laying off 2,200 workers.