Setting uniform accounting and reporting standards for most of the world is a pretty important job, particularly given the poor quality and low relevance of corporate financial statements. How do I ...

The Federal Accounting Standards Advisory Board released a standard Friday for accounting and financial reporting on government-owned land and delayed the effective date due to the pandemic.

As a business owner, you understand that accounting has to be accurate, but you may not know why accounting standards – the rules with acronyms such as GAAP and IFRS – are such a big deal. If you were ...

Nonprofit organizations are entities that perform charitable services by accepting funds from the general public. To help regulate activities and encourage the proper use of funds, accounting ...

Last year, the Governmental Accounting Standards Board (GASB) voted to defer the effective date of lease accounting standard GASB 87 to give public sector entities more time to adapt to the many ...

FASB will not be providing a last-minute reprieve on its lease accounting standard effective date, despite the concerns of financial statement preparers about the difficulty of implementing the new ...

Members of Congress have recently introduced bipartisan legislation to delay the implementation of a new accounting standard that will require many banks to more carefully calculate, and report in ...

A new global accounting framework for non-profit organisations was unveiled today (March 11) in Kampala, with regulators and ...

On August 3, 2020, the Partnership for Carbon Accounting Financials (“PCAF”) released a draft standard outlining a proposed approach for global carbon accounting. This standard, the “Global Carbon ...

Public companies’ required implementation of FASB’s new lease accounting standard in 2019 means that financial statement auditors need to be prepared to make new judgments. Although the private ...

A recent meeting of minds in the scenic beach town of Norwalk, Connecticut, may boost the future value of your investment portfolio. And Chicago Booth’s formidable accounting faculty helped bring it ...

With the news that the Financial Accounting Standards Board (FASB) is asking for feedback on its future research agenda, there is no shortage of important areas to address. That said, and not taking ...