May 19, 2014
The Governmental Accounting Standards Board (GASB) today issued for public comment a proposed Statement addressing accounting and financial reporting issues related to fair value measurements.
May 13, 2014
The IASB has clarified that the use of revenue-based methods to calculate the depreciation of an asset is not appropriate because revenue generated by an activity that includes the use of an asset generally reflects factors other than the consumption of the economic benefits embodied in the asset.
May 8, 2014
The Financial Accounting Foundation (FAF), which oversees FASB and GASB, has issued its 2013 Annual Report, detailing the organization's activities and key issues during the past year.
May 1, 2014
In a letter to House Ways and Means Committee Chairman Dave Camp, the American Institute of CPAs (AICPA) has voiced strong opposition to draft legislation that would limit the use of the cash method of accounting for pass-through entities and personal service corporations.
April 30, 2014
The Trustees of the IFRS Foundation are seeking applications for membership of the IFRS Advisory Council, after the terms of a number of its members expire at the end of 2014. The primary objective of the Advisory Council is to provide a forum where the IASB and the Trustees consults individuals and representatives of organizations…
April 23, 2014
The International Accounting Standards Board (IASB), the independent standard-setting body of the IFRS Foundation, has launched its web-based IFRS Research Center.
April 23, 2014
XBRL US has announced the publication of its new online US GAAP Pension Analyzer. The tool is available for free to public company reporting managers that runs a set of rules against the pension disclosure within an XBRL-formatted financial statement. XBRL US is the nonprofit consortium for XBRL reporting in the US.
April 16, 2014
The Financial Accounting Standards Board (FASB) has issued new guidance that improves U.S. Generally Accepted Accounting Principles (GAAP) by more faithfully representing when a company or other organization discontinues its operations.
April 16, 2014
The Governmental Accounting Standards Board (GASB) has issued Concepts Statement No. 6, Measurement of Elements of Financial Statements, which will guide the GASB in establishing accounting and financial reporting standards for U.S. state and local governments regarding the measurement of assets and liabilities.
April 9, 2014
The Financial Accounting Foundation (FAF) today announced the release of a version of the GASB Governmental Accounting Research System that has been designed for use on tablet devices.
March 26, 2014
New accounting standards for pensions will go into effect after June 15, 2014, the Governmental Accounting Standards Board has announced.
March 21, 2014
The Financial Accounting Standards Board has issued guidance intended to improve private company financial reporting regarding consolidation of lessors in certain common control leasing arrangements.