U.S. Income Statement Accounting Rules Could Change to Require Specifics About Labor Costs
The FASB is studying a plan that could require companies to break out more information in income statements about labor …
In a Surprising Move, FASB Drops Project on Subsequent Accounting of Goodwill
The FASB on June 15, 2022, unanimously voted to drop its project on identifiable intangible assets and the subsequent accounting …
New Global Sustainability Rulemaker Says it’s on Track to Issue ESG Disclosure Rules by Year-End
Though it still only has two members, the International Sustainability Standards Board (ISSB) on May 18, 2022, said it is …
Investors Applaud SEC Stance on Accounting Treatment of Customers’ Cryptos as Commissioner Peirce Criticizes It
A group of investors wants the SEC not to be deterred by strong pushback from the crypto industry against the …
Who Should Provide ESG Assurance?
Compounding an already complicated question related to a potential requirement for standardized environmental, social, and governance (ESG) reporting is who …
Is SEC Making Audit Regulatory Board Too Political?
When SEC Chair Gary Gensler in early June 2021 abruptly fired embattled PCAOB Chairman William Duhnke and said all five …
Accounting Profession Says SEC ESG Rulemaking Should Leverage Work Done By Private Standard-Setters
Judging by comment letters filed with the SEC, the accounting profession seems to be coalescing around an environmental, social, and …
Top 5 Accounting Issues to Master to Avoid Snags in SPAC IPOs
Use of Special purpose acquisition (SPAC) vehicles have spiked over the past year because private equity and venture capital firms …
Senate Bill would Open up PCAOB Disciplinary Proceedings
Sen. Jack Reed, a Rhode Island Democrat, on June 10, 2021, reintroduced legislation to allow the PCAOB to open up …
Over 30 Organizations and Individuals Press SEC Chair Gensler to Fix Broken Financial Reporting Infrastructure
More than 30 organizations and individuals are pressing SEC Chair Gary Gensler to overhaul the financial reporting infrastructure, including the …