All GAAP articles – Page 3
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Article
Tax reform produces tax scramble for public companies
With tax reform a reality, public companies are facing new planning opportunities and new provision and reporting obligations that create a mountain of transition work.
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Blog
Could companies get relief from tax reform year-end reporting?
With tax reform nearly law, the focus for public companies is shifting to whether companies might get some relief from enormous year-end reporting burdens.
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Blog
Insider trading, GAAP, and Newegg
Title: Insider trading, GAAP, and NewIn case you missed it this week, despite reminders from the SEC, T-Mobile releases non-GAAP data; the CEO of a German stock exchange operator resigns; and Newegg faces charges of co-conspiracy.
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Blog
FASB proposes updated, new taxonomies for 2018
FASB has completed its annual update to the GAAP taxonomy and has added a new taxonomy for companies to consider addressing international standards.
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Article
Banks wrangle models, data in early stages of CECL prep
As most public companies deal with revenue recognition and lease accounting changes coming in 2018 and 2019, the banking sector is trying to tame an even bigger beast.
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Blog
FASB warns Codification to undergo reconstruction
The FASB is advising accountants to sit tight through some reconstructive work in the coming months in the online Accounting Standards Codification.
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Blog
IASB issues big change in accounting for insurance contracts
The IASB has issued new standard on how to account for insurance contracts, considered among the most significant changes ever made to international accounting rules.
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Blog
FASB asks for ideas to make GAAP Taxonomy easier to use
Companies that have struggled with navigating the U.S. GAAP Taxonomy to complete their XBRL filings will want to weigh in on the effort to make it more useable.
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Blog
FASB shortens write-down period for some debt securities
The Financial Accounting Standards Board has settled on a new way for companies to amortize, or write down the value, of certain debt securities.
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Blog
Going concern rules produce puzzling disclosure scenario
Companies and their auditors are following different going concern disclosure rules, leading to a puzzling disclosure from Sears that has left capital market players scratching their heads.
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Article
Can inline XBRL save XBRL? Or at least improve data quality?
Slow progress in shifting financial statement data to the digital realm may be getting a boost, but the clock is ticking for proponents show the real benefits of XBRL.
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Blog
Flap over non-GAAP gets standard setters' attention
The disturbing rise of non-GAAP reporting in 2016 has prompted standard setters to take a closer look at whether changes to current rules are in order. Tammy Whitehouse explores.
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Blog
White plugs for accounting convergence in parting statement
Outgoing SEC Chair Mary Jo White is urging her successor to prioritize continued improvement and convergence of accounting standards globally. Tammy Whitehouse has more.
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Blog
Let’s check in on FASB’s disclosure projects
Reporting companies have long had to include large amounts of information in the disclosures of financial statements, but that all might change for the better, says CW columnist Scott Taub.
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Article
The relentless growth of non-GAAP reporting is a problem
The use of non-GAAP reporting has ebbed and flowed over the years, but a recent increase in the practice is starting to raise questions as to whether or not the SEC will have to get involved before things get out of hand. Tammy Whitehouse reports.
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Article
Revenue recognition: full retrospective, modified retrospective, or somewhere in-between
Companies looking to implement the new revenue standard are faced with the difficult choice of going full retrospective, modified retrospective, or somewhere in-between. Those at the forefront of implementing the standard are starting to favor the idea of presenting three complete years of historical data under the new rules, but ...
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Article
Companies Prep for FASB’s New Take on Leases
Still knee-deep in preparing for the massive new revenue recognition standard, public companies have plenty of reason to start revving up now for another major accounting change on the horizon—the new leasing standard. “As soon as possible—even prior to the issuance of the new leases standard—preparers should consider creating a ...
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Article
Consequences for Cloud Computing Accounting Start to Roll In
Image: Companies applying new guidance on accounting for cloud computing fees are finding the guidance is not so simple, and doesn’t always provide a sunny outcome on the financial statement, either. Prepare for detailed reviews of your contract, and possibly changes to key metrics and disclosures. “If someone thinks this ...
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Blog
Why Simplification Isn’t Simple
Simplicity in accounting is always a great idea, yet complexity always seems to be intruding into reality. This week, Compliance Week columnist Scott Taub tries to deconstruct why complexity endures, and why we may even see it creep into the ostensibly simplified new rule for revenue recognition. “Despite 10 years ...
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