Unique Effective Date Challenge Posed for Private Companies on Coming FASB Rules on SEC Disclosures
Private companies will not know when coming FASB disclosure rules that are aimed at incorporating certain SEC disclosures into U.S. …
New FASB Lease Accounting Rules Better for Investors but Some Financial Reports Lack Comparability
Questions continue to surface to the FASB about lease accounting rules, including whether analysts and lenders find the resulting new …
Firms Want to Adopt ‘Operable’ FASB Proposal on Crypto Rules ASAP with Fixes; Signal Appetite for More Rules
Some of the nation’s largest crypto businesses, Big Four accounting firms and others, told the FASB that proposed crypto assets …
Marcum Partner Challenges SEC Proceedings Against Him as Unconstitutional
Alan Markowitz, a Marcum LLP Partner facing an SEC administrative action related to his work as engagement partner in audits …
FASB Proposes to Introduce Illustrative Example of Profits Interest Awards in U.S. GAAP
Businesses have two months to weigh in on a FASB proposal that provides an example to illustrate how to account …
Private Companies Getting a Pass from Coming FASB Proposal on Disclosure of Income Statement Expenses
Private companies should be exempted from the FASB’s coming proposal that aims to ratchet up disclosure rules for income statement …
SEC Chair Gensler Defends Staff Accounting Bulletin 121 in Crypto-Heavy House Hearing
SEC Chair Gary Gensler on April 18, 2023, defended the year-old Staff Accounting Bulletin (SAB) No. 121 before a House panel, pushing …
CFOs in all Industries can Learn from Bank Collapses, Institute of Management Accountants Says
It will take more time to get a full explanation behind the recent collapse SiliconValley Bank (SVB). But there is …
Coming FASB Proposal on Disclosures for Annual and Quarterly Expenses Will be Costly to Apply
The FASB on March 29, 2023, unanimously voted to issue a proposal that will add new disclosure requirements for reporting …
Enron Former CFO: ‘I am one of the Poster Boys’ for Fraud
Convicted felon Andy Fastow, the infamous chief financial officer of Enron Corp., ironically said accounting and auditing rules need to …