Financial Reporting

August 18, 2016 

The new RIVIO Clearinghouse (see accompanying article) is a solution to a problem of financial hijinks with which you might not be familiar. After all, most CPAs perform their services ethically and expect their clients to represent their financial ...

Gail Perry

August 8, 2016 

The findings uncovered different sentiments among age groups. Fifty-nine percent of professionals 55 years of age and older consistently see how their work contributes to the company's bottom line, but just 38 percent of those 35 to 54 years old agreed.

August 2, 2016 

The proposed ASU is part of the FASB’s broader disclosure framework project to improve the effectiveness of disclosures in notes to financial statements by clearly communicating the information that is most important to users of a reporting ...

July 31, 2016 

Under the new model, there is no trigger event before booking expected credit losses; rather, they are recognized on day one. This day-one recognition of expected credit losses is likely the most controversial provision of the new guidance.

July 26, 2016 

Leasing is an important source of financing for many entities in the United States and around the globe. Many entities enter into leasing arrangements to gain access to assets, obtain financing, or reduce exposure to the risks of ownership of an asset.

July 19, 2016 

For Baby Boomers, however, financial confidence has edged up three percentage points, with 82 per cent now confident they will meet their goals.

July 6, 2016 

The survey also reveals that many organizations face a large challenge in moving toward a higher maturity of GRC activities – 43 percent of respondents say they are operating their compliance efforts at an ad hoc or fragmented/siloed level.

June 27, 2016 

60 percent of respondents indicated that they are running behind schedule in their overall implementation of the standard, which has an effective date as early as January 1, 2018, for many organizations.

June 21, 2016 

After numerous delays and extensions, the Financial Accounting Standards Board (FASB) issued its long-awaited final standard on accounting for credit losses on Thursday. After meeting with concerned community bankers, auditors and regulators, the ...

June 15, 2016 

A client asked his CPA for her opinion regarding an investment they were considering. Because the CPA did not have experience with this type of investment, she advised the client to consult with his own financial adviser, but she did not document the ...

June 10, 2016 

In order to remain above the competition and provide the most up-to-date accounting skills, it’s wise to stay informed on what’s affecting the world of accounting and what kind of an impact it has on the overall health of the accounting industry.

June 8, 2016 

The research also found employment-related costs spiked sharply for the largest companies ($5 billion or more in revenue) to 5 percent of revenue, compared to 1.1 percent in 2015. According to the study, this may be a reflection of the tight market ...