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CFO Article Archive: Financial Accounting and Reporting

Deloitte writes and compiles a regular stream of CFO-centric content and timely features, including research, topical digests, perspectives, and insights and technical analyses, in a special section of CFO Journal, an online publication from The Wall Street Journal.

The articles below and others are available in PDF. Also see our CFO Insights bi-weekly thought leadership.

Goodwill impairment testing: Building a solid approach to step zero

Learn how companies can approach the optional qualitative assessment for goodwill impairment testing and considerations to bear in mind.

FASB clarifies scope of offsetting disclosure requirements

Deloitte's Heads Up discusses the FASB's Accounting Standards Update No. 2013-01, “Clarifying the Scope of Disclosures About Offsetting Assets and Liabilities.”

FASB settles on single impairment model for financial assets

Deloitte’s Heads Up discusses the FASB’s proposed Accounting Standards Update “Financial Instruments—Credit Losses.”

Insurance spotlight: Transition—is the finish line in sight?

Deloitte’s “Insurance Spotlight” summarizes the FASB’s and IASB’s decisions on the transition provisions related to the insurance contracts project and highlights industry perspectives on these decisions and other matters.

Accounting roundup: Year in review

Deloitte’s Accounting Roundup: Year in Review summarizes final guidance that affects reporting and disclosures for the coming reporting season.

Highlights of the 2012 AICPA national conference on current SEC and PCAOB developments

Deloitte’s Heads Up reports on the AICPA national conference, including PCAOB and auditing developments, the SEC´s work plan on the incorporation of IFRSs, accounting standard-setting activities and other topics.

A summary of the PCAOB’s standing advisory group meeting held November 15-16

Deloitte's Heads Up summarizes issues discussed at the PCAOB's Standing Advisory Group, including current and future standard-setting activities and potential approaches to the auditor's reporting model.

December 21: Deadline for comments on FASB proposal on scope clarification of offsetting disclosures

Deloitte's Heads Up” discusses FASB's proposed ASU “Clarifying the Scope of Disclosures About Offsetting Assets and Liabilities.”

Financial reporting considerations related to pension and other postretirement benefits

Deloitte's Financial Reporting Alert highlights accounting considerations related to the calculations and disclosures entities provide under U.S. GAAP in connection with their defined benefit pension and other postretirement benefit plans.

Deloitte releases sixth edition of SEC Comment Letters—Including Industry Insights

This release in Deloitte’s SEC Comment Letter series includes extracts of frequently issued SEC staff comments, analysis and links to resources, plus industry-specific trends.

Financial reporting implications related to hurricane Sandy

Deloitte's Financial Reporting Alert and accompanying practice guide highlight some of the financial reporting implications related to Hurricane Sandy for affected entities reporting under U.S. GAAP.

A look at the IASB’s draft of hedge accounting requirements

Deloitte's "Heads Up" discusses the IASB's draft of hedge accounting requirements that will be incorporated into IFRS 9, Financial Instruments.

An overview of the SEC’s final rule requiring resource extraction issuers to disclose certain payments

Deloitte's Heads Up discusses the SEC's Final Rule Release, “Disclosure of Payments by Resource Extraction Issuers” including key definitions, disclosures and filing requirements.

Overview of the FASB and IASB decisions on the leases project

Deloitte’s Heads Up summarizes the decisions reached by the FASB and IASB to date on their leases project, including the most significant provisions of the proposed lease accounting model.

Update on FASB’s project on classifying and measuring financial instruments

Deloitte's Heads Up addresses classification and measurement, a key component of the FASB's project on accounting for financial instruments.

An Overview of PCAOB’s final auditing standard on communications with audit committees

The PCAOB’s Auditing Standard No. 16, concerning communications with audit committees is discussed in Deloitte’s Heads Up newsletter.

Information for audit committees about the PCAOB inspection process

Deloitte’s Heads Up discusses an August 2012 release by the Public Company Accounting Oversight Board providing guidance to audit committees about the board’s inspections of their audit firms.

A look at FASB’s proposed new disclosures for reclassification adjustments out of AOCI

Deloitte’s Heads Up discusses FASB’s proposed disclosures for reclassification adjustments out of “Accumulated Other Comprehensive Income.”

FASB issues discussion paper on private-company decision-making framework

Deloitte’s Heads Up discusses the FASB’s discussion paper on a proposed framework for determining whether modifications or exceptions to existing and proposed U.S. GAAP are warranted for private companies.

FASB finalizes amendments on testing indefinite-lived intangible assets for impairment

Deloitte’s Heads Up discusses ASU 2012-02, which amends the guidance in ASC 350-30 on testing indefinite-lived intangible assets, other than goodwill, for impairment.

Financial reporting implications of the eurozone’s economic struggles

Deloitte’s Heads Up discusses accounting and financial reporting issues related to the eurozone’s conditions, including those affecting financial instruments, income tax and SEC reporting and disclosures.

FASB issues proposed requirements for disclosing liquidity and interest rate risk

Deloitte’s Heads Up discusses FASB's proposed Accounting Standards Update Disclosures About Liquidity Risk and Interest Rate Risk, which would require new qualitative and quantitative disclosures.

Setting the standards for private company accounting

Deloitte’s Heads Up discusses the Private Company Council, tasked with improving the accounting standard-setting process for private companies, and what may be next on its agenda.

Update on accounting developments

Accounting Roundup discusses the Private Company Council; FASB and IASB deliberations on classification and measurement of financial instruments, impairment of financial assets, revenue recognition and investment company accounting; plus the JOBS Act.

Update on IFRS developments

IFRS Insights includes convergence updates on lease accounting and financial instruments; an overview of the comment letters received about the re-exposure of the revenue recognition standard and more.

SEC clarifies hedging ramifications of changes to derivative contracts made in response to Dodd-Frank

Deloitte's Financial Reporting Alert discusses clarification issued by the SEC on whether modifications made to derivative contracts in response to Dodd-Frank provisions would affect an entity’s hedging relationships.

Applying ASU 2011-08 guidance on a qualitative goodwill impairment assessment

Deloitte’s Roadmap discusses considerations for adopting and performing a qualitative assessment of goodwill impairment in accordance with FASB’s amended guidelines.

Comments on the revised exposure draft on revenue recognition

Deloitte's Heads Up summarizes the general themes of comment letters sent to the IASB and FASB in response to their revised exposure draft on revenue recognition and concerns raised by industries.

Tips for preparing carve-out financial statements

Understand steps that can help in the handling of carve-out financial statements, including identifying the most challenging issues at the project’s outset.

SEC comment letters on foreign private issuers using IFRSs

Deloitte’s SEC Comment Letter series provides insights into SEC staff reviews of filings by foreign private issuers, including SEC comments on impairment of assets, consolidated financial statements, discontinued operations and other topics.

Adopting integrated reporting: Why CFOs may want to act now

The move toward integrated reporting potentially represents the most significant change to the rulebook in years and may be transformational for the entire business.

PCAOB reproposes auditing standard on communications With audit committees

Deloitte's Heads Up discusses the PCAOB's reproposed auditing standard “Communications with Audit Committees,” highlighting significant changes from current standards and the original proposal.

Why tax can't wait for IFRS

Despite the uncertainty of the U.S. adoption of IFRS, entities issuing financial statements under U.S GAAP should be prepared for significant changes in financial reporting that could have tax repercussions.

Considering an IPO? Six essential planning stages of going public

Taking a privately held company public requires a solid team and an understanding of the stages of going public, including establishing strong corporate governance and developing risk management and investor relations capabilities.

A look at FASB’s proposed ASU on testing indefinite-lived intangible assets for impairment

Deloitte's Heads Up discusses FASB's proposed Accounting Standards Update, “Testing Indefinite-lived Intangible Assets for Impairment.“

Accounting roundup: Changes in the tax landscape

This special edition of “Deloitte’s Accounting Roundup: Changes in the Tax Landscape” summarizes the significant issues that have affected tax accounting over the past year.

A guide to pre-IPO planning

Becoming a public company requires a higher set of standards and failure to meet those requirements can bring severe consequences. A six-step framework can help guide decisions for establishing needed capabilities ahead of an IPO.

MD&A: An analysis of SEC comments to issuers

Read an analysis of SEC communication about content within annual Management's Discussion and Analysis, including early warning disclosures, results of operations, off-balance-sheet arrangements and other issues.

SEC papers compare IFRS with U.S. GAAP, analyze IFRS in practice

Deloitte's Heads Up discusses SEC staff papers covering the SEC staff's analysis comparing International Financial Reporting Standards and the 29 U.S. GAAP ASC topics, as well as an analysis of annual IFRS consolidated financial statements.

IPOs: An analysis of SEC comment letters to issuers

When a company files an IPO, the SEC takes special notice of all related documentation. Deloitte’s annual review of SEC comment letters takes a look at SEC communication related to IPOs.

IPOs: An analysis of SEC comment letters to issuers

When a company files an IPO, the SEC takes special notice of all related documentation. Deloitte’s annual review of SEC comment letters takes a look at SEC communication related to IPOs.

Audit committee brief: PCAOB explores auditor independence and mandatory audit firm rotation

Deloitte's Audit Committee Brief looks at the PCAOB's Concept Release on Auditor Independence and Audit Firm Rotation, covering questions and issues posed by the PCAOB.

IIRC discussion paper on integrated reporting highlights benefits, challenges and future direction

Deloitte's Heads Up discusses the International Integrated Reporting Committee's discussion paper, Towards Integrated Reporting--Communicating Value in the 21st Century.

FASB’s new option for simplifying goodwill impairment testing requirement comes with complications

FASB's amended guidance on testing goodwill for impairment offers an optional, qualitative assessment that aims to make compliance testing on goodwill impairment less time-consuming and costly.

Three critical guidelines for audit committees in assessing financial reporting effectiveness

Using relevance, understandability and timeliness as a benchmark can help audit committees improve the effectiveness of financial statements.

PCAOB issues concept release on potential alternatives for content and form of the auditor's report

Deloitte's Heads Up discusses the International Integrated Reporting Committee's discussion paper, Towards Integrated Reporting--Communicating Value in the 21st Century.

Fair value convergence takes shape

FASB’s Accounting Standards Update on fair value measurement reflects FASB’s and IASB’s efforts to develop a single, converged fair value framework on how to measure fair value and disclosures to provide.

Could IFRS trip up your debt covenants?

With $11.5 trillion of debt coming due for many large global companies over the next five years, a shift to new accounting standards could impact debt covenants.

 

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