The report highlights the activities of the group charged with working with FASB to improve the process of setting accounting standards for private companies.

Nonprofit organizations are entities that perform charitable services by accepting funds from the general public. To help regulate activities and encourage the proper use of funds, accounting ...

With the emergence of International Financial Reporting Standards (IFRS), most discussion of the proposed convergence of U.S. generally accepted accounting principles, or GAAP, and IFRS standards has ...

Members of Congress have recently introduced bipartisan legislation to delay the implementation of a new accounting standard that will require many banks to more carefully calculate, and report in ...

The report highlights the PCC's accomplishments and activities from the year, overviews its agenda priorities, addresses stakeholder engagement and discusses strategy moving forward.

GAAP rules are constantly being clarified and tightened, reducing gray areas and increasing consistency, which means less flexibility and more scrutiny from auditors. Here is an executive-level ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

Revenue recognition and lease accounting remain a challenge for private companies after a one-year, pandemic-related delay in effective dates provided financial statement preparers some relief.

The MCA amended AS 22 to incorporate provisions related to OECD Pillar Two global minimum tax rules. The amendment exempts companies from recognising deferred tax assets or liabilities linked to ...

IRDAI proposes new accounting standards for insurers from April 1 to align with global practices, improving transparency and investor confidence with Ind AS 117 and Ind AS 109.