Financial Reporting July 22, 2026
45% of CFOs Say Their AI Investments Lean Toward Productivity
Just 20% of finance AI projects lean towards decision quality, while 45% of AI investments in finance lean towards productivity.
Accounting Standards December 23, 2024
FASB Invites Comments on Intangibles
The invitation to comment is intended to explore ways the FASB can improve this area of financial reporting, which includes the accounting for acquired and internally developed intangibles.
Financial Reporting December 19, 2024
AICPA Releases Statement Expressing Optimism of Possible Delay for BOI Reporting
Following the release of language in the proposed continuing resolution relating to the beneficial ownership information reporting requirement, the American Institute of CPAs (AICPA) released the following statement.
Accounting Standards December 17, 2024
FASB Looks to Make Improvements to the Accounting for Environmental Credits and Environmental Credit Obligations
The proposed ASU provides recognition, measurement, presentation, and disclosure requirements for all entities that purchase or hold environmental credits or have a regulatory compliance obligation that may be settled with environmental credits.
Accounting December 12, 2024
Survey Emphasizes the Importance of AI in the Future of the Controllership Function
The report concluded that Generative AI has the potential to reduce the burden of human interaction for many types of tasks, freeing up a workforce for higher productivity and space for more ambitious strategies.
Small Business December 6, 2024
AICPA Releases Statement on BOI Injunction, FinCEN Appeal
A federal court in Texas has issued an injunction barring enforcement of the Corporate Transparency Act and BOI reporting, until the case is resolved.
Financial Reporting December 5, 2024
Federal Court Blocks Enforcement of Corporate Transparency Act and BOI
A new federal law that would require most LLCs, corporations and partnerships to file disclosures with the Treasury Department, including Beneficial Ownership Information, has been halted by a Texas federal judge.
Accounting Standards December 3, 2024
FASB Targets Credit Losses for Accounts Receivable, Contract Assets in Proposed ASU
The proposal addresses challenges with applying CECL to current AR and contract assets arising from revenue transactions.
Accounting Standards November 25, 2024
GASB Proposes Guidance on Subsequent Events
The proposal defines subsequent events and provides note disclosure requirements in order to reduce diversity in practice.
Financial Reporting November 25, 2024
CFPB Finalizes Rule on Federal Oversight of Popular Digital Payment Apps
The Consumer Financial Protection Bureau (CFPB) has finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps.
Accounting November 19, 2024
FASB Looks to Add New Guidance on How Businesses Account For Government Grants
The proposal would establish rules on the recognition, measurement, and presentation of a government grant received by a business.
Financial Reporting November 15, 2024
AICPA Has Grave Concerns with BOI Reporting Requirement Timeline
According to the AICPA, there is a worrisome lack of awareness surrounding the reporting requirements for BOI and they have raised these concerns about the complexities around the rule with FinCEN.
Accounting November 15, 2024
Survey Shows Half of Organizations Are Lagging in Tax and Finance Automation
Challenges such as a lack of IT support (34%), budget constraints (31%) and talent shortages (28%) are cited as the main barriers to transformation.