Most public companies in the United States have a reporting year that ends on December 31. Such companies must report their financial results with the Securities and Exchange Commission (SEC) within 90 days (by April 1 this year since the 90th day is a Sunday), or sooner if they are an “accelerated filer” as defined by the SEC.
Tags: Corporate Governance, Business & Legal, SEC, Accounting & Tax, Accountants, GAAP
This is my third and final blog article on my thoughts on developments that may occur in 2013 in “Accounting Land” in the United States. I cover the activities at the Securities and Exchange Commission (SEC), the Public Company Oversight Board (PCAOB), the American Institute of Certified Public Accountants (AICPA), and, finally, the Governmental Accounting Standards Board (GASB).
Tags: Corporate Governance, Business & Legal, SEC, Accounting & Tax, Accountants, US GAAP, GAAP, IFRS
This is the second of three blog articles on my thoughts on developments that may occur in 2013 in “Accounting Land” in the United States. In this article I discuss the joint projects that the U.S. Financial Accounting Standards Board (FASB) and its international counterpart, the International Accounting Standards Board (IASB), are working on. In my third blog article, I will cover the major activities at the Securities and Exchange Commission (SEC), the Public Company Oversight Board (PCAOB), the American Institute of Certified Public Accountants (AICPA), and, finally, the Governmental Accounting Standards Board (GASB).
Tags: SEC, Accounting & Tax, Lease Accounting, Accountants, IFRS
My last two blog postings discussed what happened in “Accounting Land” in the United States in 2012. But that’s history. What about the future? Let’s dust off the crystal ball and I’ll share with you my thoughts on developments that may occur in 2013, in a series of three blog articles.
Tags: SEC, Accounting & Tax, Lease Accounting, Accountants, US GAAP
This is the second of two blog articles on 2012 changes in the literature frequently used by accountants. Previously, I covered accounting developments in the United States and internationally. This article covers developments affecting companies (registrants) subject to Securities and Exchange Commission (SEC) oversight and auditing developments.
Tags: SEC, Accounting & Tax, Audit Standards, Accountants, JOBS Act, US GAAP, GAAP, IFRS, Internal Control
As 2012 comes to a close, it is time for accountants in the United States to reflect on new financial reporting rules or developments and what may transpire in 2013. This is the first of two blog articles on the topic. In this article, I cover accounting developments in the United States and internationally. The second article will cover Securities and Exchange Commission (SEC) developments and auditing developments.
Tags: SEC, Accounting & Tax, Lease Accounting, Accountants, US GAAP, GAAP, IFRS, Decision on IFRS
Ever since the passage of the Sarbanes-Oxley Act of 2002 (SOX), the concept of internal control over financial reporting has taken on a new meaning. The U.S. Congress passed this legislation in part because of the failure of certain large companies, notably Enron and WorldCom, which met their demise in part because of real or perceived weaknesses in company internal control and less than adequate corporate governance. SOX reinforces the concept that company management is responsible for establishing and maintaining an adequate internal control structure and robust procedures for financial reporting.
Tags: Corporate Governance, Business & Legal, SEC, Accounting & Tax, Accountants, JOBS Act, SOX, Internal Control
Accountants in the United States are in demand once again. There are specific needs at the Financial Accounting Standards Board (FASB) and the U.S. Securities and Exchange Commission (SEC). Separately, the skills and talents of those CPAs that practice in the “income tax world” will be helpful to address scheduled individual income-related issues as year-end looms.
Tags: Business & Legal, SEC, Accounting & Tax, Accountants, GAAP, IFRS, Decision on IFRS