SEC Charges Software Company for Improper Accounting
The SEC on June 7, 2022, said that it charged software company Synchronoss Technologies, Inc., for improper accounting of revenues …
FASB Plans to Mull Feasibility of Standardizing EBITDA, Other Key Performance Metrics
Research on FASB’s efforts to study the feasibility of standardizing the definition of financial key performance indicators (KPIs) for business …
Industry Groups Seek Bank Exemption from SEC Guidance on Crypto Platform Accounting
The Securities Industry and Financial Markets Association (SIFMA) and Bank Policy Institute (BPI) on May 19, 2022, said regulated banks …
Elon Musk, Mark Cuban, and Others Urge Supreme Court to Review SEC Gag Policy
Billionaires Elon Musk and Mark Cuban, free-market think tanks, constitutional scholars, and others on April 22, 2022, urged the Supreme …
Too Early to Pinpoint Accounting Issues on ESG for Private Companies, Panel Says
It is still too early to address Environmental, Social, and Governance (ESG) accounting issues for private companies as no prevalent …
Much Talk, Little Action on Cryptocurrencies Among Cities and States, GASB Says
GASB research on cryptocurrencies so far dug up much talk by states backed with little action, making standard-setting largely moot …
Investor Disinterest Push FASB to Drop Project on Distinguishing Liabilities from Equity
The FASB on April 13, 2022, voted 5 to 2 to drop the second phase of its project to simplify …
FASB Eliminates Troubled Debt Accounting Rule With Limits, Enhances Loan Disclosures
The FASB on March 31, 2022, published an amendment to credit loss accounting rules to enhance the usefulness of vintage …
Roll Out Affordable Housing Accounting Rule Conditionally to All Tax Credit Investments, Task Force Says
The FASB should extend the accounting rule used for low-income housing tax credit (LIHTC) investments to all federal and state …
Exclusive Interview With FASB Chair Richard Jones: Includes Insights on Path for Cryptocurrencies, ESG
FASB Chair Richard Jones told Thomson Reuters in a March 2022 interview that the Federal Reserve’s proposed U.S. central bank digital currency …