The new head of the International Accounting Standards Board is setting his priorities for the rule maker, including potentially changing requirements around intangible assets and weighing in on sustainability disclosure. Andreas Barckow took the helm of the London-based IASB in July. The organization sets international financial reporting standards, or IFRS, […]
Finance
What are Generally Accepted Accounting Principles (GAAP)?
When a public company issues a financial statement, everything needs to be clear and well-understood by everyone reading it. To ensure this, it’s paramount to have a baseline for reporting. That’s where Generally Accepted Accounting Principles (GAAP) come in. GAAP represents methods, rules and practices that provide guidelines and procedures—as […]
Oxnard fills top financial post with Ventura school administrator Betsy George
Bringing with her 25 years of experience in accounting and finance, Oxnard appointed Betsy George as its new chief financial officer who started the job Monday. George was originally hired by the city in June as an assistant chief financial officer, but later replaced previous chief financial officer Kevin Riper. […]
The Blind Spot: How ESG Matters Can Affect Current Accounting and Financial Reporting
© Igor Borisenko/iStock/Getty Images Plus The Financial Accounting Standards Board (FASB) and Securities Exchange Commission (SEC) have been providing guidance, making statements and delivering speeches about accounting and financial reporting considerations for environmental, social and governance (ESG) matters since the beginning of spring to address growing interest and concerns from […]
Accounting firms accelerate ESG services as climate risks increase
Climate change is not only sparking record-shattering heat waves across the U.S. this summer, but also prompting more accounting firms to get involved in environmental, social and governance services. Investors are expecting companies to provide more disclosures about the risks of climate change, and the Securities and Exchange Commission has […]
The Financial Accounting Foundation has reappointed Private Company Council chair Candace Wright
The trustees of the Financial Accounting Foundation have reappointed Candace Wright to a third two-year term as chair of the Private Company Council, and added David Pesce as a member of the PCC for a three-year term. Both new terms will begin Jan. 1, 2022. A director at Top 100 […]