Electric Energy Sector Says Accounting Rule Causing Losses to Profitable Contracts
By Denise Lugo The Edison Electric Institute (EEI), a group that represents all U.S. investor-owned electric companies, asked the FASB …
Bankruptcy Filers Could Face Extra Hurdles Under New Lease Accounting Changes
By Denise Lugo Companies filing for bankruptcy could find adopting new lease accounting changes unpleasant, many of which require them …
Rep. Sherman, as Capital Markets Chair, Will Increase Accounting Focus
By Bill Flook Rep. Brad Sherman, the new chairman of the House Financial Services Committee’s Capital Markets subcommittee, said he …
House Passes Insider Trading Ban
By Bill Flook The House of Representatives on December 5, 2019, voted 410 to 13 to pass a bipartisan bill …
AICPA Issues Standards for Agreed-Upon Procedures Engagements
By Soyoung Ho The AICPA on December 5, 2019, published revised attestation standards that are intended to give accountants more …
Biotech, Venture Capital Groups Back Extension of Disclosure for EGCs
By Bill Flook Trade groups representing the biotechnology and venture capital industries are throwing their support behind a bill to …
PCAOB Hires Former EPA Chief Scott Pruitt’s Adviser as CFO, Likely to Deepen Complaints About Partisanship
By Soyoung Ho The PCAOB has quietly hired Holly Greaves, former CFO of the Environmental Protection Agency (EPA) and adviser …
Plethora of New FASB Rules Spurring Job Growth in Accounting Profession, Study Claims
By Denise Lugo The number of U.S. jobs for accountants, auditors, and financial specialists will continue to climb over the …
U.S. Accounting Rulemakers Faced with Tough Decisions over Credit Loss Rules
By Denise Lugo The FASB will vote on October 16, 2019, about whether to finalize an August proposal that aims …
Big Four Accounting Firms Ask FASB to Provide Disclosure and Classification Rules for Supplier Finance Arrangements
By Denise Lugo Deloitte & Touche LLP, Ernst & Young LLP, KPMG LLP and PricewaterhouseCoopers LLP have jointly asked the …