The report highlights the activities of the group charged with working with FASB to improve the process of setting accounting standards for private companies.

The report highlights the PCC's accomplishments and activities from the year, overviews its agenda priorities, addresses stakeholder engagement and discusses strategy moving forward.

In March, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act to help stabilize the U.S. economy in the wake of COVID-19. Included in the Act, and little noticed by the ...

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 ...

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 ...

The boss of the body that sets international financial reporting standards called on the European Union to boost funding for its work as a budget crunch forces it to scale back.

GAAP rules are constantly being clarified and tightened, reducing gray areas and increasing consistency, which means less flexibility and more scrutiny from auditors. Here is an executive-level ...

Given new standards, changes in the economy, and corporate trends, accounting and financial reporting seem to grow more complex every year. The Financial Accounting Standards Board (FASB) has tried to ...

Certain financial statement preparers would receive the benefit of effective date delays in FASB’s accounting standards for leases, hedging, and credit losses under a proposal the board issued ...

Companies must disclose exposure to Pillar Two income taxes under revised AS 22, while small and medium-sized firms are exempt from the new requirements ...

The world of global accounting is girding up for a trans-Atlantic battle. Last month L'Oreal, Royal Dutch Shell, and Unilever, all gigantic companies, asked the U.S. Securities and Exchange Commission ...

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 ...