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.