Examining FASB’s effort to develop separate accounting standards for private companies from an investor perspective.
Standard setters should continue to build relationships with different types of investors, with organizations such as CFA Institute helping to fill the void.
The FASB and PCC recently issued a guide intended to help determine whether and when to provide alternative financial reporting requirements for private companies. How are private companies different, and does this justify different treatment?
In August, after considering how accounting in four areas (including goodwill) should be differentiated for private companies, the FASB finally issued a proposed accounting standards update that provides a single definition of a public business entity.
SEC Chief Accountant Paul Beswick questions simplifying reporting requirements for entities on the basis of ownership structure.
To address the improvements needed in lease accounting, the IASB and FASB, through a joint revised exposure draft, have proposed the capitalization of all leases with the exception of short-term and immaterial leases.
The Financial Accounting Standards Board (FASB) has a project to create separate private company accounting standards, based on the theory that private companies have unique characteristics that require different financial reporting requirements than public companies.
Investors are closely following separate initiatives of the FASB and the PCAOB to improve the way both company management and the independent auditor report the company’s future financial health.
The financial crisis highlighted a range of shortcomings associated with the recognition, measurement, and disclosures of transferred financial assets, including those involving securitized assets.
Have the raft of regulatory proposals requiring greater use of central counterparty clearing houses enhanced risk transparency and risk management at the systemic level and within individual financial institutions?
FASB proposal would make warnings about a company’s failing financial health the responsibility of firm management.
Currently there are initiatives underway to create an overarching framework to improve financial statement disclosures. The “disclosure framework” is intended to help enable companies communicate more effectively with investors, eliminate redundancy, and move away from what some assert has become a compliance exercise.
FASB recently initiated a project to create separate private company accounting standards. Meanwhile the PCC — formed to advise FASB on private company standards — is charged with identifying areas within existing GAAP to adjust reporting requirements for private companies.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.