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IFRS Conceptual Framework Improvements

One of the primary topics of discussion among the accounting profession today continues to be around the topic of International Financial Reporting Standards ... read more >

FASB/IASB Meeting Talks Revenue Recognition


By Lauren Rodgers

Whether a corporation is foreign or domestic, they all have one thing in common: revenue and proper recognition of that revenue. Revenue recognition was ... read more >

Update on the Comprehensive Review of the IFRS for SMEs


By Jenna Zelenski

Small and medium-sized entities (SMEs) account for more than 95% of all companies around the world according to the International Financial Reporting Standards ... read more >

FASB and IASB Announce Formation of Joint Transition Resource Group for Revenue Recognition


By Jenna Zelenski

On July 26, 2013, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) announced that they will be creating ... read more >

Tracking the Implementation of International Standards

The IFRS Foundation is undertaking an initiative to document and track how the various countries adopting International Financial Reporting Standards (IFRS) ... read more >

Gift Card Programs: Impact of Proposed Revenue Recognition Standards


By Jason Pierce

Does your company offer a gift card program for consumers? If so, upcoming changes to revenue recognition standards will have an impact on your accounting ... read more >

By the Narrowest of Margins, the Lease Standard to Be Re-exposed


By Todd Lucas

At the Financial Accounting Standards Board (FASB) meeting on April 10, 2013, members voted 4-3, to re-expose the lease accounting standard. FASB Chairman ... read more >

2013 FASB/ISAB Joint Projects on the Horizon


By Brittany Becker

Since 2002’s Norwalk Agreement, convergence between the standards set by the Financial Accounting Standards Board (U.S. GAAP) and the standards set ... read more >

Everyone Agrees: Financial Statement Disclosures Causing Problems


By Matthew Lynch

As anyone familiar with financial statements can attest, the disclosure requirements for financial statements get more and more complex every year. The ... read more >

FASB/IASB Revenue Recognition Update


By Ryan Deatrick

The FASB and the IASB have been formally working on a revenue recognition project since September of 2002. This joint effort culminated in an exposure ... read more >