In a prior post by Lynn Rees regarding fees assessed on health insurers, the issue turned on what it means to be a going concern. Recently, Audit Analytics released a report on going concern trends. You can get the highlights in this CFO article. Interestingly, the number of new qualifications is down again this year. [...] Read more > >
One objective of this blog is to push out to the academic community decisions made by the FASB. Recent Acts of Congress (Health Care and Education Reconciliation Act) has resulted in additional fees levied on health insurers. How companies should account for these fees is the topic of the most recent Accounting Standards Update (ASU), [...] Read more > >
At the upcoming American Accounting Association 2011 Annual Meetings, I have organized a panel session in which Bob Herz, Mary Barth, Jim Leisenring, and Tom Linsmeier will respond to questions and give guidance on what they think researchers can do to provide more useful input to financial reporting standard setters. The panel is scheduled for [...] Read more > >
In my previous post on proposed auditor communication changes, Lynn Rees pointed out that there doesn’t seem to be a disclosure that investors don’t like. His post brought two things to my mind. The first was post from Rob Bloomfield a few months ago about how beliefs about hypothetical use and actual use of information [...] Read more > >
This week, the FASB and IASB announced plans to re-expose their proposed standard on leasing. This project was, until late last year, slated to be finished in July 2011. However, given the majors changes that have been raised during redeliberations, the boards have concluded that they are likely to end up with a document that [...] Read more > >
I know that many of you are preparing to teach soon, and your students might not fully appreciate the importance of your subject matter: accounting. You might start by talking about accounting’s crucial role in the development of writing, and civilization itself. Attendees of the AAA meetings from several years ago might have seen Denise [...] Read more > >
The SEC hosted a Roundtable on IFRS July 7. I turned on the archived webcast in the background as I worked through my email stack. The discussions seemed similar to a roundtable the FASB held near the end of my term as Fellow. But I did catch a few new words. Condorsement – Jeremy [...] Read more > >
One of the questions around the disclosure framework is how the FASB will coordinate with the SEC and IASB. One issue that may make this question even more interesting is that a new group has potentially inserted itself in the discussion. Last month, the PCAOB released a concepts statement outlining proposed revisions to the auditor [...] Read more > >
Click on “read more” at the bottom of this post and then click here for an archived recording of the session and click here for Harry Evans’ slides. The FASRI Round Table series continues at 4pm Eastern time on Tuesday, July 19. Rob Bloomfield, Lynn Rees and Phil Shane will moderate the session, and our guest [...] Read more > >
The FASB’s current Disclosure Framework Project was initiated in response to recommendations from various investor groups and the SEC Advisory Committee. One of the groups to reach out to the FASB was the Investors Technical Advisory Committee. In reading through their 2007 letter, they state as part of their rationale: “In our view, our proposal [...] Read more > >