FASB Sets New Priorities
In recent years, the FASB's agenda has been aimed at joint projects with the International Accounting Standards Board (IASB). That work in now wrapping up with plans to issue a new revenue recognition standard later this year. In addition, joint standards on leases and insurance contracts will follow.
FASB intends to focus on "the pressing needs of investors in the US capital markets. The FASB will continue to work with its Private Company Council to simplify the accounting for private companies under US GAAP. FASB will also begin rewriting confusing sections of the Accounting Standards Codification.
Source: Ernst & Young Financial Reporting Briefs - September 2013
New Revenue Recognition Standard
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Noninsurance Entities Could Be Affected by a FASB Insurance Proposal
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Presentation of Unrecognized Tax Benefits
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FASB Proposal on Discontinued Operations
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Disclosure Framework Project
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Going Concern Uncertainties
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Accounting for Income Taxes Tops List of Restatements
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Upcoming CLN Teleconference(s):
Internal Controls - Defined & Their Value
December 12th, 2013
Presented By: Brent Warner and Sue Ulrey, CliftonLarsonAllen
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IT Controls - Consideration & Impacts
December 19th, 2013
Presented By: Brent Warner and Sue Ulrey, CliftonLarsonAllen
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