Financial reporting professionals had their hands full this year keeping up with new accounting standards and reporting requirements. Developments surrounding the turbulent credit environment were also noteworthy. The Financial Accounting Standards Board (FASB) issued the long anticipated business combinations statement as well as a statement on fair value. The publications below serve as a helpful guide to the past year.
Accounting Roundup: 2007 in Review
This issue of year-end Accounting Roundup highlights the year’s accounting standard setter and regulatory activities affecting year-end financial reporting. It also covers hot topics such as the current credit environment. Noteworthy standard setter developments include the issuance of FASB statements on fair value and business combinations.
Newsletter: Accounting Roundup: 2007 in Review
Highlights of the 2007 AICPA National Conference on SEC & PCAOB Developments
It’s that time of year again – when the accounting standard setters and regulators provide financial professionals with updates on new developments, regulations, and priorities – just in time for the annual reporting season. For insight into what was covered at the conference, take a look at our recently issued Heads Up.
Newsletter: Heads Up: Highlights of the 2007 AICPA National Conference on SEC & PCAOB Developments
Key Accounting Issues and the Credit Environment
The PCAOB and the Center for Audit Quality (CAQ), have issued guidance to preparers and auditors of financial statements to help them tackle accounting and valuation issues resulting from turbulent conditions in the credit markets.
Article: Key Accounting Issues and the Credit Environment
Newsletter: Securities and Exchange Commission (SEC) Expresses View on Servicers’ Ability to Make Loan Modifications
Newsletter: SEC Issues Disclosure Guidance for Off-balance Sheet Entities
Webcast: The State of the Credit Market and Its Impact on Financial Reporting
Role of Fair Value in Year-end Reporting
Fair value will play an important part in this year’s financial reporting. Stay tuned - the FASB is expected to partially defer Statement 157. No deferral for Statement 159 is expected. Both the SEC and the CAQ issued guidance this year regarding strategies related to the adoption of Statement 159.
Newsletter: FASB Issues Standard on Measuring Fair Value
Newsletter: FASB Proposes To Partially Defer Statement 157, Considers Implementation Issues
Accounting for Business Combinations, Goodwill, and Other Intangible Assets
This issue of the Roadmap series provides a single source for the requirements, and interpretive guidance, applicable to business combinations completed in 2007. The issue of Heads Up below highlights important aspects of the new business combinations and noncontrolling interests FASB statements issued in December.
Newsletter: Roadmap: Accounting for Business Combinations, Goodwill, and Other Intangible Assets — A Roadmap to Applying Statements 141 and 142
Newsletter: Heads Up: Major Changes to Business Combination Accounting as FASB and IASB Substantially Converge Standards
Webcast: Statements 141(R) and 160: An Overview of New Guidance on Accounting for Business Combinations and Noncontrolling Interests in Consolidated Subsidiaries
Uncertainty in Income Taxes - Applying FIN 48
This issue of the Roadmap series gives clear explanations, easy-to-follow examples and a detailed six-step approach to adopting Interpretation No. 48 (FIN 48). This is the first year that public companies must adopt this guidance and prepare related financial statement disclosures. Stay tuned – it is expected that the effective date for private companies will be deferred.
Newsletter: Roadmap: Uncertainty in Income Taxes — Applying FIN 48
Newsletter: Heads Up: SEC Staff's Views on FASB Interpretation No. 48
SEC Eases Reporting Requirements for Foreign Filers
This issue of our Heads Up newsletter includes a summary of the SEC’s decision to allow foreign private issuers to prepare financial statements using International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB) without reconciling to U.S. GAAP.
Newsletter: Heads Up: SEC Eases Reporting Requirements for Foreign Filers
Newsletter: Heads Up: The Shift Toward IFRSs and its Impact on U.S. Companies
Related Content
Technical Library: The Deloitte Accounting Research Tool
Resource: Roadmap Series
Newsletter Archive: Accounting Roundup
Newsletter Archive: Heads Up
Webcasts: Dbriefs for Financial Executives
Article: Staying on top of FIN 48 Challenges
