Accounting

GAAP and IFRS

FASB Proposes Later Standards Deadlines for Private Companies

The Financial Accounting Standards Board says it wants to make a two-year stagger of implementation deadlines standard practice.

Vincent Ryan
August 16, 2019
GAAP and IFRS

Lease Accounting Post-Adoption

Many companies used brute force to meet the initial lease accounting deadlines. To comply long term, they will need processes, policies, and controls.
Accounting

AICPA Urges Delay of Lease Accounting Rules

FASB should postpone the effective date of the “significant and complex” ASC 842 for a year for private companies, AICPA says.
Accounting

KushCo Loss to Double With Earnings Correction

The pot-packaging company says accounting errors related to recent acquisitions caused it to misstate financial results.
Accounting

Metric of the Month: Number of Accounts in the Chart of Accounts

An unwieldy chart of accounts can cause significant headaches for chief financial officers.
Accounting

ASC 606: Trips, Traps, and Troubleshooting

Clever private company CFOs can learn from the mistakes, pitfalls, and land mines that tripped up their public company peers last year.
Accounting

SEC Probing Honeywell Accounting for Liabilities

The conglomerate is now estimating asbestos-related liabilities at $2.61 billion as of Dec. 31, 2017, up $1.087 billion from its prior estimate.
Accounting

Numbers Don’t Lie, Until They Do

A good number of controllers, financial analysts, accountants, and auditors don't completely trust the accuracy of their company's financial data.
Risk Management

Email Scammers Still Tripping Up Finance Personnel

The SEC finds that internal accounting controls failed to prevent nine public companies from losing money to business email fraud.
Accounting

Ready for the New Lease Accounting Standard?

There are 10 critical issues that U.S. companies are struggling with as they prepare for ASC 842.
Accounting & Tax

Accountants Protecting Their Turf

Should appraisers of business assets have to be accountants? Robert Pozen says the attempt to push such a requirement is misguided.
Auditing

Auditing the Auditor

Whether internal or external, audits rarely detect insider fraud. Here’s why.
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