Companies are telling FASB that they need more time to redesign their practices and systems to implement the revenue recognition standard.
Companies just don’t want to give up the flexibility to manage financial reporting that's provided by the complexity of accounting standards.
FASB issues an accounting standards update that eliminates the "Extraordinary Items" classification.
Regulators are calling on companies to reduce the boilerplate and improve the effectiveness of financial reporting.
A jury's finding allows the SEC to pursue civil actions against BBX Capital and its chairman, Alan Levan.
The new FASB revenue recognition standard means increased focus from auditors and likely unwanted attention from the SEC.
“To ensure the integrity of our financial reporting system, firms cannot play the roles of auditor and preparer at the same time,” said an SEC…
Former CFO and CEO directed staff to falsify occupancy rates of senior residences to avoid violating the covenants of a lease agreement, says the SEC.
FASB struggles with changes that would make private company financial reporting easier – but only if the company remains private.
The accounting standards setter tries to clear up the issue of pushdown accounting and when it can be used.