All GAAP articles
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ArticleAccounting 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.
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Article
Challenges 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.
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Article
Impact 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.
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RSM 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.
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Compass 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.
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EagleBank 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.
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FASB 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.
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Bausch 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.
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How 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.
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AICPA 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.
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Coronavirus 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.
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FASB 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.
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Goodwill 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.
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Square 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.
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SEC 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.
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FASB 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.
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Fraud 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.
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Article
FASB 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.
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FASB proposes fix to rules on financial instruments
FASB is proposing amendments to GAAP to clarify interactions among different rules on measuring investments and securities.
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SEC eyeing non-GAAP numbers that alter GAAP
SEC staff members are signaling to public companies that they still have concerns over uses of non-GAAP measures that seem to thumb their nose at GAAP.
