ACCOUNTING, AUDITING & ATTEST SERVICES

Why Lease Accounting Laggards Face Serious Risk
 

Why Lease Accounting Laggards Face Serious Risk

Posted: August 16, 2017
Gathering all of an organization's lease contracts and extracting the data to comply with new lease accounting rules can be an arduous task. Here's what organizations need to consider as they implement the new Financial Accounting Standards Board rules - and why it's smart to start that work promptly.

Convergence of Global Accounting Standards
 

Convergence of Global Accounting Standards

Posted: August 9, 2017
Will U.S. GAAP and IFRS ever fully converge? Conversion can be costly for companies. Changes in technology, tax reporting requirements and compensation systems are a few of the many areas that may be cost prohibitive.



Private Company Council Meeting Recap for July
 

Private Company Council Meeting Recap for July

Posted: July 12, 2017
The Private Company Council met on July 11 to share stakeholder input from the private company Town Hall meeting in June. FASB staff delivered updates and the PCC gave input on various projects.

AICPA Drafts More Revenue Recognition Guidance
 

AICPA Drafts More Revenue Recognition Guidance

Posted: July 6, 2017
The AICPA has released several more working drafts of industry-specific guidance related to various implementation issues involving the revenue recognition standard and is asking for feedback on them.

 Companies Still Lagging on Adopting Lease Accounting Standard
 

Companies Still Lagging on Adopting Lease Accounting Standard

Posted: June 30, 2017
According to the recent survey of more than 600 finance executives from a variety of industries, 23 percent of organizations haven’t even started assessing the impact of the changes, while 52 percent are still in the assessment phase.

 CFOs and CIOs Differ on Revenue Recognition Readiness
 

CFOs and CIOs Differ on Revenue Recognition Readiness

Posted: June 30, 2017
Talk about a disconnect. A new revenue recognition survey from EY reveals that not only are many public companies behind schedule on implementing the new accounting standard by its 2018 effective date, but there’s serious finger-pointing in the C-suite about why that is.

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