GAAP and IFRS

Accounting Standards

FASB Gives Private Companies Goodwill Accounting Break

Assessments and tests for goodwill impairment can be left until the end of the reporting period.

Vincent Ryan
March 31, 2021
Accounting Standards

FASB Chair Jones Looks Ahead

Seven months in, Richard R. Jones gives his perspective on cryptocurrencies, climate risk disclosures, and possible goodwill accounting changes.
Auditing

Audit Chairs Give 2020 Audits Mixed Reviews

In discussions with the PCAOB, audit committee chairs cited areas of auditor strengths and weaknesses.
Accounting

FASB to Take Up Digital Currencies Question

Current GAAP accounting prohibits a business from showing the true value of its crypto assets, say critics.
GAAP and IFRS

BP Faces $17.5B Q2 Hit

The oil giant lowered its oil price expectations through 2050 due to the COVID-19 pandemic.
FP&A

Five Accounting and Reporting Considerations Before Reopening

Companies must now adjust to a yet-evolving new normal.
Accounting

Buffett Rebuffed

The Berkshire chairman decried the FASB mandate on new reporting for unrealized gains and losses. His airline holdings proved him wrong.
GAAP and IFRS

The Importance of Accounting Comparability

Could deviating from industry norms and employing atypical accounting choices hurt companies and managers?
Accounting

Is COVID-19 a Triggering Event for Impairment Testing?

Once companies are able to assess impacts to actual and forecasted results, they should consider whether such impacts represent a triggering event.
Accounting

Is It Time to Reevaluate the Wisdom of Brand Writedowns?

Accounting rules for intangible assets may cloud CFOs' appreciation of the long-term damage that writing down the value of brands may cause.
GAAP and IFRS

IASB Proposes Changes to Reporting of Profit and Income

The proposals represent "a game changer in the comparability and usefulness of financial statements," said IASB Chair Hans Hoogervorst.
Financial Reporting

Bridging the Gaps in GAAP

Here are eight critical considerations for combating the creativity crisis in accounting.
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