Categoría: Panorama

The Financial Accounting Standards Board (FASB) has issued enhanced disclosure requirements for property and casualty insurance contracts that are already well known to insurance companies. These disclosures provide investors with a clearer picture of an insurance company’s claim-related liabilities on the balance sheet. Although new in Generally Accepted Accounting Principles (GAAP), insurance companies have always…
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The EU accounting directive brings a much-changed small company accounting regime, added complexity and confusion. Liz Loxton investigates The new EU Accounting Directive brings sweeping changes to the small company reporting regime. However, while European Commission (EC) policymakers seemed to have had the laudable aim of reducing the need for smaller entities to produce overly…
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It’s been 10 years since the adoption of International Financial Reporting Standards (IFRS) by listed companies across the EU, and we believe that Europe’s positive experience offers useful lessons for countries contemplating a move to IFRS reporting. Our Financial Reporting Faculty has published a major new report detailing Seven Lessons Learned from the European Experience. The…
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For most of the past decade businesses that decided not to pay attention to proposed changes in revenue recognition rules have saved themselves time and frustration as the proponents’ timetables have slipped and roadmaps have changed. The new rules are the result of a convergence of US-GAAP (Generally Accepted Accounting Principles – the accounting standard used…
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