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Searching Content indexed under Accounting Standards by Morgan Lewis ordered by Published Date Descending.
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1
FASB To Eliminate Special Accounting Rules For Development Stage Entities
The FASB decided in February to draft a final Accounting Standards Update that will eliminate the special accounting treatment for development stage entities.
United States
29 Apr 2014
2
FASB Revised Guidance Will Decrease Discontinued Operations Treatment
The FASB recently issued an Accounting Standards Update that should reduce reporting of discontinued operations (disc ops) in some circumstances.
United States
28 Apr 2014
3
Public Meeting Does Not Clarify Direction Of PCAOB’s Proposal To Expand The Auditor’s Report
Most commenters at the PCAOB’s April 2–3 public meeting on the Auditor’s Reporting Model proposal expressed support for additional reporting by auditors.
United States
28 Apr 2014
4
IIRC And GISR Agree to Memorandum Of Understanding
Two private sector organizations recently announced cooperative efforts that will likely influence the nature of disclosures by public companies that are regarded as best practices.
United States
15 Apr 2014
5
SEC Commissioner Offers Views On SASB
Daniel M. Gallagher stated that the SEC must "take exception to efforts by third parties that attempt to prescribe what should be in corporate filings".
United States
10 Apr 2014
6
FASB To Modify Going Concern Proposal
Recently, the FASB tentatively decided to require disclosure regarding a substantial doubt about an entity’s ability to continue as a going concern.
United States
7 Apr 2014
7
PCAOB Board Member Addresses Audit Deficiencies Identified In Inspections
Jay D. Hanson, a member of the PCAOB board, said that he believes the PCAOB should clarify descriptions of inspection deficiencies.
United States
3 Apr 2014
8
Audit Committee Member Charged With Fraud For Disregarding Red Flags
A recent SEC action is a warning to audit committees to take action in response to recommendations relating to evidence of potential accounting fraud.
United States
3 Apr 2014
9
Proposed FASB Framework Could Result In Additional Future Disclosures On Loss Contingencies
A question included in a recently issued FASB exposure draft could result in the FASB considering additional disclosures about potential and existing litigation ..
United States
22 Mar 2014
10
FASB Endorses Another Private Company Council Standard
The FASB recently endorsed an accounting alternative within U.S. GAAP that will allow private companies to not apply variable interest entity (VIE) accounting requirements for common control leasing arrangements when certain conditions are met.
United States
17 Mar 2014
11
Update: FASB Insurance Contracts Proposal Will Not Apply To Non-Insurance Companies
At a recent meeting, the FASB decided to limit the scope of its proposed Accounting Standards Update to insurance companies only, rather than having the insurance contracts project include all entities that issue insurance contracts.
United States
11 Mar 2014
12
Supreme Court To Rule On "Subjective Falsity" In Section 11 Opinion Case
The U.S. Supreme Court recently granted certiorari to review the Sixth Circuit’s decision in Omnicare, Inc. v. Laborers District Council, a case brought under section 11 of the Securities Act.
United States
5 Mar 2014
13
FASB Insurance Contracts Proposal Would Apply To Non-Insurance Companies
If adopted, a proposed Accounting Standards Update from the FASB relating to accounting for insurance contracts would apply to many companies that are not insurance companies because of a broad proposed definition of an "insurance contract."
United States
4 Mar 2014
14
SEC Adopts PCAOB Standards For Broker-Dealer Audits
The SEC recently approved the PCAOB’s proposed standards and amendments to establish auditing and attestation standards applicable to audits of brokers and dealers registered with the SEC.
European Union
1 Mar 2014
15
SEC May Renew Focus On IFRS
Recent statements and actions by the SEC suggest that it may revive its consideration of whether US companies should be required to prepare financial statements in accordance with IFRS.
United States
19 Feb 2014
16
MD&A Case Addresses Whether An Uncertainty Is "Known"
A recent district court decision suggests that disclosure about an uncertainty under Item 303 of Regulation S-K may not be required when a company concludes that assertion of a claim relating to the uncertainty is not considered to be probable.
United States
13 Feb 2014
17
SEC Official Discusses Financial Reporting And Audit Task Force
Margaret McGuire, Vice Chair of the SEC’s Financial Reporting and Audit Task Force, recently offered insight into the purpose and goals of the Task Force. Speaking at a D.C. Bar event on February 11, McGuire indicated that the Task Force was established in an effort to ensure that the SEC is doing everything it can to detect and investigate financial fraud issues as early as possible.
United States
12 Feb 2014
18
Update: District Court Denies Motion For Reconsideration In MD&A Case
A new ruling has been issued in the MD&A case that we discussed in our February 3 post.
United States
10 Feb 2014
19
Advances In Technology May Impact Segment Reporting
A frequent area for SEC staff comment involves the way in which a company reports its segments in its financial statements filed with the SEC.
United States
7 Feb 2014
20
MD&A: Don’t Forget Material Trends And Uncertainties
The analysis of known trends and uncertainties is critical when preparing the Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) section for annual reports on Form 10-K and quarterly reports on Form 10-Q.
United States
3 Feb 2014
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