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.
Companies Urged to Stay Abreast of Accounting Proposals
Not paying close attention to proposed accounting standards and not commenting when there are concerns can have important consequences, experts say.
New Lease Standard: Comparing IFRS and U.S. GAAP
For multinationals that must prepare financials under both standards, there are comparability challenges and differing nuances to keep in mind.
Climate Change Reporting: A Catalyst for Change
As the effects of climate change become more prominent, they will become more and more visible in financial statements, says IASB's chair.
How to Implement the New Lease Accounting Standard
With ASC 842 slated to take effect in just a few months, accounting teams need a methodical approach to implementation. Here is a guide.
Rev Rec Rule Transforms Accounting: FASB’s Siegel
The revenue recognition standard will turn a diverse set of industry standards into “one framework about how to think about revenue.”
Companies Get Help with Materiality Definition
The International Accounting Standards Board responds to companies’ call for help with materiality in financial statements.
New Lease Accounting Rules Pose Challenges, Study Says
The standards take effect in a mere six quarters for public companies, but many have not yet begun, or only recently began, to assess what must be done.
In Accounting Swan Song, SEC’s White Urges Convergence
Outgoing SEC Commissioner Mary Jo White encourages FASB and IASB to continue collaboration.
Start Preparing Now for New Lease Accounting Rules
They don't take effect until 2019, but few leases will be grandfathered, so there will be an immediate bottom-line impact.
Revenue Recognition: The Clock Is Ticking
The new revenue recognition standard has implications that extend far beyond accounting.