Accounting involves recording financial transactions. Companies are required to file complete financial statements that are consistent and precise. But, there may come a time when a company's ...

Companies have always faced a major issue of how to reflect changes in accounting methods and error corrections in financial statements. In 2005 FASB issued Statement ...

In August, the SEC announced settled charges against Healthcare Services Group, Inc., a provider of housekeeping and other services to healthcare facilities, its CFO and its controller, for alleged ...

The Public Company Accounting Oversight Board (PCAOB) has released a new resource publication titled “Audit Focus: Auditing Accounting Estimates,” to assist smaller audit firms in tackling accounting ...

GASB issued guidance Monday designed to improve the accounting and financial reporting requirements for accounting changes and error corrections. GASB Statement No ...

The Governmental Accounting Standards Board issued a proposal Tuesday to improve the accounting and financial reporting requirements for accounting changes and error ...

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 ...

[This post revises and updates my earlier post primarily to reflect the contents of the adopting release.] By a vote of three to two, the SEC has adopted new amendments to simplify, modernize and ...

Credit losses represent a significant area of focus in financial statement audits. As economic conditions fluctuate and accounting standards evolve, auditors face increasing challenges in evaluating ...