December 30, 2013
The Definition of a Public Business Entity will be used by the FASB, the PCC, and the Emerging Issues Task Force (EITF) to determine the scope of new accounting and reporting guidance and to identify the types of companies that are excluded from the scope of the Guide.
December 18, 2013
Questions about using this taxonomy for creating and submitting eXtensible Business Reporting Language (XBRL) tagged interactive data files in compliance with SEC rules should be directed to the SEC. SEC contact details and guidance are available at the SEC’s portal on XBRL.
December 17, 2013
The Governmental Accounting Standards Board (GASB) recently issued a statement regarding the transition provisions of GASB’s new pension standards for state and local governments.
June 17, 2013
The New York State Society of Certified Public Accountants (NYSSCPA) expressed agreement with a proposal from the Financial Accounting Standards Board (FASB) that, if implemented, would standardize the treatment of net operating loss carryforwards or tax credit carryforwards on financial statements.
June 10, 2013
Thomson Reuters has released an overview of the Financial Accounting Standards Board’s (FASB) proposed accounting standards for leases.
February 12, 2013
FASB has issued its U.S. GAAP Financial Reporting Taxonomy Implementation Guide—Subsequent Events. The guide is the first in a series of XBRL Implementation Guides, which are designed to help Taxonomy users understand how certain disclosures are structured within the Taxonomy, and is available at www.fasb.org.
February 8, 2013
The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting reclassifications out of accumulated other comprehensive income.
January 15, 2013
The Financial Accounting Standards Board has issued for public comment its proposal to improve financial reporting about repurchase agreements and other transfers with forward agreements to repurchase transferred assets.
November 4, 2012
New AICPA framework would offer small businesses a new method of financial reporting. The framework is intended for companies who are not required to use Generally Accepted Accounting Principles.
September 17, 2012
Site offers tools for understanding how accounting standards can be applied, from the valuation and impairment of assets, to accounting for financial instruments, as well as how these standards are changing.
August 7, 2012
Two professors in the Bauernfeind College of Business at Murray State University, L. Murphy Smith, DBA (Doctor of Business Administration), and Katherine Taken Smith, DBA, along with Shannon Knight, CPA, a business professor at Texas A&M University, collaborated on a new financial accounting textbook. The book, Financial Accounting and Reporting, is published by CCH.
July 17, 2012
U.S companies will not be required to meet a mid-2013 deadline for adopting IFRS accounting standards. At least not anytime soon.