All GAAP articles
-
News BriefCantaloupe fined $1.5M in SEC accounting fraud case
Electronic payments software company Cantaloupe agreed to pay a $1.5 million penalty to settle allegations of accounting fraud levied by the Securities and Exchange Commission arising from improper revenue recognition practices.
-
PremiumNeed to know: FASB proposal on accounting for crypto assets
The Financial Accounting Standards Board issued a proposed accounting standards update to improve accounting and disclosures for certain crypto assets.
-
PremiumAccounting and reporting challenges of environmental credits
Companies are working on plans to reduce their carbon emissions. The popularity of environmental credits has grown as a way for companies to meet their emission reduction targets.
-
ArticleChallenges for SPACs: Public company, now what?
Special purpose acquisition company transactions have unique risks and require awareness of what it takes to operate as a public business. Internal controls, governance, technology, and more are essential.
-
ArticleImpact of FASB measuring crypto assets at fair value
The Financial Accounting Standards Board tentatively decided to require crypto assets that are in scope to be measured at fair value. Experts discuss the evolving ramifications of the project.
-
ArticleRSM to pay $3.75M to settle improper conduct charges
Audit firm RSM and three of its senior-level employees were charged with improper professional conduct by the SEC for signing off on inflated revenues logged by public company Revolution Lighting Technology over four fiscal years of audits.
-
ArticleCompass Minerals fined $12M for disclosure control lapses
Compass Minerals International, a Kansas-based mining company, agreed to pay a $12 million fine to the Securities and Exchange Commission to resolve allegations deficiencies in its disclosure controls led to failures at facilities it operates in Canada and Brazil.
-
ArticleEagleBank fined $23M over improper lending, disclosure practices
EagleBank agreed to pay nearly $23 million in penalties for improperly loaning approximately $90 million to family trusts controlled by its former CEO over three years, then misleading investors about the loans.
-
ArticleFASB update addresses revenue recognition in business combinations
The Financial Accounting Standards Board announced an update to its business combinations standard aimed at clarifying how to apply requirements under its revenue recognition rule.
-
ArticleBausch Health to pay $45M for misleading disclosures
The Securities and Exchange Commission charged Bausch Health (formerly Valeant Pharmaceuticals) and three former executives for improper revenue recognition and misleading disclosures in SEC filings and earnings presentations.
-
ArticleHow coronavirus has shifted non-GAAP measures
The rules around non-GAAP reporting have not changed, but the coronavirus pandemic has brought about new considerations and challenges to consider in second-quarter reporting.
-
ArticleAICPA best practices for conducting remote audits in uncertain times
Auditors facing higher audit risks and new accounting and reporting issues as a result of the coronavirus pandemic and downturns in the economy have some new guidance from the AICPA.
-
ArticleCoronavirus pandemic elicits opposing views on CECL, TDRs
Two regulatory chairs are battling over whether a delay is needed for financial institutions to implement the updated credit loss standard; also expressed are opposing views on how loan modifications should be viewed in terms of troubled debt restructurings.
-
ArticleFASB Chairman Golden’s agenda setting 101
Have you ever wondered how FASB decides what issues to include in its technical agenda? Chairman Russell Golden explained recently the process for identifying the right accounting issues to address.
-
ArticleGoodwill impairments more than doubled in 2018, says recent study
Goodwill impairment recorded by U.S. public companies is on the rise. According to Duff Phelps’ 2019 U.S. Goodwill Impairment study, it climbed 125 percent in 2018.
-
ArticleSquare discontinues adjusted revenue metric following SEC warning
Square is discontinuing the use of adjusted revenue following receipt of a comment letter from the SEC, which has been eyeing reports for use of measures not in compliance with its updated revenue standard.
-
ArticleSEC revisiting decades-old bank disclosure guide
The SEC is seeking public comment on proposed updates to statistical disclosures for bank and savings and loan registrants.
-
ArticleFASB offers changes to ease reference rate transition
FASB is proposing guidance intended to ease the potential accounting burden companies expect to face as they navigate reference rate reform.
-
ArticleFraud in non-GAAP: DOJ, SEC pursue parallel charges
The U.S. Department of Justice and the Securities and Exchange Commission are pursuing fraud charges over manipulation of a non-GAAP metric at a publicly traded real estate investment trust.
-
ArticleFASB seeks change to liabilities, equities guidance
FASB has issued a proposal on the distinction between liabilities and equity meant to cut through complexity known to compromise reporting quality.