Financial Reporting Network

Defining Issues: Constituents Respond to FAF Proposal to Create Private Company Standards Improvement Council Financial Reporting Network | Feb. 01, 2012 | Accounting & Financial Reporting This edition of Defining Issues provides a summary of comment letters on the Financial Accounting Foundation (FAF) in October 2011 issued a proposal to establish a Private Company Standards Improvement Council (PCSIC).

SEC Staff Updates Financial Reporting Manual Financial Reporting Network | Jan. 30, 2012 | Accounting & Financial Reporting The staff of the SEC's Division of Corporation Finance recently released an updated version of its Financial Reporting Manual, as of Sept. 30, 2011, which provides general guidance about financial reporting topics.

Joint FASB/IASB Meeting - Jan. 27, 2012 Financial Reporting Network | Jan. 30, 2012 | Accounting & Financial Reporting The FASB and IASB met on January 27 and discussed: Accounting for Financial Instruments: Classification and Measurement, and Accounting for Financial Instruments: Impairment.

SEC Staff Guide Addresses Mine Safety Disclosure Financial Reporting Network | Jan. 30, 2012 | Accounting & Financial Reporting The SEC staff recently released a Small Entity Compliance Guide, Mine Safety Disclosure, which discusses reporting requirements under the SECÂ’s final rule of the same name.

Accounting Disclosure Checklist - Management's Discussion and Analysis Financial Reporting Network | Jan. 30, 2012 | Accounting & Financial Reporting KPMG LLP recently updated the Specialized Accounting Disclosure Checklist - Management's Discussion and Analysis and its What's New document.

Perspective on Disclosure Overload and Complexity: Hidden in Plain Sight Financial Reporting Network | Jan. 27, 2012 | Accounting & Financial Reporting The topic of disclosure overload and complexity has been addressed by multiple organizations over many years. KPMG and FEI recently undertook a significant research effort addressing this topic.

FASB Proposes Change to Impairment Testing of Indefinite-Lived Intangible Assets Financial Reporting Network | Jan. 26, 2012 | Accounting & Financial Reporting The FASB recently issued a proposed Accounting Standards Update (ASU) that would permit an entity to make a qualitative assessment to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired.

Updates of Certain Specialized Industry Disclosure Checklists Financial Reporting Network | Jan. 23, 2012 | Accounting & Financial Reporting KPMG LLP recently updated the Specialized Accounting Disclosure Checklists for Depository and Lending Institutions; Investment Companies; and Oil and Gas Producing Activities, and their respective What's New documents.

More insights...