Join the Roundtable for this day-long session on pressing accounting issues. We will review the latest commentary from the SEC and discuss recent accounting changes. Prerequisites: None Program Level: Update Advanced Preparation: None Instructional Delivery Method: Group-Live CPE Credit: 7 Field of Study: Accounting Course Registration Requirement: Must be preregistered for this course
Read more(Journal of Accountancy, 4 May 2012) In Brief: Comments are due by 5 September to the International Accounting Standards Board (IASB) on proposed narrowly-scoped amendments to 11 global financial reporting measures. Topics include fair value measurement, income taxes and presentation of financial statements. Our View: It is critical for companies to understand and prepare for [...]
Read more(AccountingToday, 25 April 2012) In Brief: Hans Hoogervorst has been educating himself about XBRL in his first year as chairman of the International Accounting Standards Board (IASB); now he’s a fan. The former Dutch finance minister says the technology could significantly improve financial reporting because it will offer access to an “à la carte menu [...]
Read more(Journal of Accountancy, April 2012) In Brief: To retain top young accounting talent, this article suggests, offer competitive compensation packages, create a culture of openness and trust, allow for work/life balance, and use career roadmaps to enhance leadership and development skills. Our View: Some of this advice is sensible; some is slightly misguided. For example, [...]
Read more(IOL, 26 April 2012) In Brief: Adopting Lean Six Sigma (LSS) can enhance the productivity and efficiency of any worker, from the CEO to employees on the production line, according to this writer. Embed these principles in the corporate culture, she says, and the organization will become more profitable. Our View: Process efficiency issues certainly [...]
Read more(CFO, 25 April 2012) In Brief: The Financial Accounting Standards Board (FASB) is working on a standard that would make “disclosures more useful and less redundant” by allowing US companies to attach fewer notes to their data in their financial statements. The board debated key parts of a discussion paper for the project last week, [...]
Read more(Journal of Accountancy, 23 April 2012) In Brief: The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) expect to complete the final standards for their major convergence projects by 2013, according to a new report. The FASB and IASB plan to begin redeliberations on their joint revenue recognition project this quarter [...]
Read more(BusinessFinance, 19 April 2012) In Brief: Most–81%–large corporations are investing in major process improvements to make Finance a “better business partner,” this writer says. Our View: Big initiatives such as new Finance IT systems, process automation projects, and shared services centers typically yield few long-term benefits. Results from our recent survey of Accounting and Controls [...]
Read more(FierceComplianceIT, 18 April 2012) In Brief: Starting in June, all public companies will have to use XBRL to file their statements. But is it worth the cost? As of yet, there is no “truly killer application” to capture the advantages of XBRL adoption. Our View: Results from our 2011 XBRL Benchmarking survey show that most [...]
Read more(AccountingToday, 12 April 2012) In Brief: CPA firms are becoming increasingly aware of the importance of process efficiency, this writer says. His advice: invest time in developing cross-functional teams to measure, analyze, and improve current processes. Doing so will ensure buy-in from members of different functions – a key element of long-term success. Our View: [...]
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