United States: Accounting and Audit

When Global Trade creates global chaos and difficult supply chain decisions are needed for trade compliance, BLG can help guide you

When SEC staff questioned a company's segment reporting after management described the business differently on an earnings call than in SEC filings, it highlighted a growing trend of regulators listening to earnings calls. The company's detailed response explaining why it maintains one reportable segment despite discussing product-level metrics reveals the technical considerations companies must navigate when presenting operational information to investors versus financial reporting requirements.

The CAS Board has published a final rule rescinding several Cost Accounting Standards while retaining specific requirements to protect government interests, marking a significant step in aligning CAS with generally accepted accounting principles. The changes will impact how contractors account for compensated personal absence, material acquisition costs, and tangible asset capitalization and depreciation. Contractors directly affected by the rescission of CAS 408 will benefit from an express exemption from