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3 weeks ago | 
today.westlaw.com | Denise Lugo
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Feb 12, 2025 | 
today.westlaw.com | Denise Lugo
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Feb 5, 2025 | 
today.westlaw.com | Denise Lugo
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Nov 18, 2024 | 
tax.thomsonreuters.com | Denise Lugo
The Financial Accounting Standards Board (FASB) is taking aim at the confusing array of non-GAAP financial measures that companies use to report their performance, seeking to bring order to a system that has long frustrated investors and analysts.
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Nov 6, 2024 | 
tax.thomsonreuters.com | Denise Lugo
The Financial Accounting Standards Board (FASB) on November 4, 2024, issued new guidelines aimed at enhancing the transparency and clarity of corporate expense reporting, in a move that could significantly impact how public companies disclose financial information.
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Oct 30, 2024 | 
tax.thomsonreuters.com | Denise Lugo
In a significant move to bring accounting practices in line with modern technology, the FASB on October 29, 2024, proposed changes to the way companies account for internal-use software costs. The current system, criticized for being outdated and complex, has led to diverse practices and opaque reporting. The proposed changes seek to replace rigid project-stage guidelines with a more agile approach that mirrors modern software development.
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Oct 11, 2024 | 
tax.thomsonreuters.com | Denise Lugo
The Governmental Accounting Standards Board (GASB) has unveiled a preliminary proposal to enhance financial reporting for state and local governments, shedding light on the often-opaque world of infrastructure asset management. The board issued Preliminary Views, Infrastructure Assets on October 10, 2024, which proposes changes that would give citizens a better understanding of how their tax dollars are being used to build, maintain, and upgrade roads, bridges, and water systems.
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Oct 7, 2024 | 
tax.thomsonreuters.com | Denise Lugo
In the high-stakes world of finance, one critical aspect of corporate reporting has long been shrouded in mystery: cash flow. For years, investors, analysts, and regulators have struggled to make sense of the complex and often opaque numbers that govern a company’s lifeblood. Now, the chorus of experts grows louder, demanding reform.
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Sep 30, 2024 | 
tax.thomsonreuters.com | Denise Lugo
The FASB proposed five areas of targeted changes to hedge accounting rules on September 25, 2024, to better align financial reporting with economic realities and simplify the rules. The proposal aims to simplify hedge accounting rules under Topic 815, Derivatives and Hedging, which have been complicated by global reference rate reform. The changes could help companies reduce the risk of unexpected events and errors, and better align financial reporting with economic hedging strategies.
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Sep 13, 2024 | 
tax.thomsonreuters.com | Denise Lugo
In a bid to increase flexibility for aspiring accountants while maintaining public protection standards, the American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA) have proposed a new pathway to Certified Public Accountant (CPA) licensure.
