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Accounting standard


LONDON (Project union) – The United Nations Conference on Climate Change (COP26) held this year in Glasgow brought about a marked shift in direction from the responsibilities of governments to the power of the private sector. If national governments fail to reconcile their interests and engage in collective action, can the private sector take over? …

A trader works on the floor of the New York Stock Exchange (NYSE) in Manhattan, New York, United States, September 24, 2021. REUTERS / Andrew Kelly September 24 (Reuters) – More than half of S&P 500 companies now use a common Value Reporting Foundation standard to report on topics such as carbon emissions and energy …

Small businesses with an annual turnover of less than 250 crore will soon get an accounting standard on “share-based payments” to meet if the CA Institute is successful. The CA Institute has embarked on an exercise to develop an accounting standard also for unincorporated entities in the country which increasingly rely on share-based payments. In …

By Taj Adhav With everything retailers have endured since early 2020, ASC 842 is probably the last thing on your mind. You may even see the term “ASC 842” for the first time. And it’s good However, you may have some catching up to do. ASC 842 is the new accounting standard released by the …

The American Institute of CPAs Executive Financial Reporting Committee has released draft versions of its interpretations of the Financial Accounting Standards Board’s new long-term assurance accounting standard. The standard, which the FASB published in 2018, makes specific improvements to its existing assurance standards for the recognition, measurement, presentation and reporting requirements for long-term contracts issued …

The CA Institute has developed an exposure draft for a revised accounting standard on income taxes, applicable to entities that are not required to adopt Indian accounting standards (Ind AS) notified by the Department of Commercial Affairs. Currently, all listed and unlisted companies – with a net worth of 250 crore and above – are …

The Financial Accounting Standards Board published a proposal to update accounting standards Wednesday to better align a company’s hedge accounting with its risk management strategies. The proposals are based on coverage standard that the FASB published in 2017, which aimed to better align the economic results of risk management activities with hedge accounting. The new …

The U.S. accounting standard-setter plans to tackle the issues of goodwill accounting and expense disclosure in 2021, after a year marked by a leadership transition and economic devastation caused by the coronavirus pandemic. “Our agenda is filled with important items, but these are two that have generated a lot of interest from people,” said Richard …

The Financial Accounting Standards Board postpones the effective date of its long-term insurance accounting standard by one year and facilitates its early adoption. Last month, council members voted to postpone the standard in response to the coronavirus pandemic (see the story). At the time, a spokesperson said the board would issue an update to accounting …

More than half of companies that completed their first audits under the new rental accounting standard needed to go the extra mile, a new survey found, but the extra work provided more transparency and helped businesses cope. to the unexpected crisis of the new coronavirus, which resulted in numerous lease modifications and rent concessions. The …