Posts Tagged ‘financial reporting’
Non-GAAP Reporting, Popular as Ever
Non-GAAP financial metrics are back in the news today thanks to a fresh report from Audit Analytics, which finds that almost all large companies now report at least one such metric in their financial statements, and that the number of non-GAAP metrics the average filer reports has tripled in the last 20 years. Audit Analytics…
Read MoreThoughts on Semiannual Reporting
Many moons ago — OK, actually 10 days ago, but that qualifies as many moons ago these days — President Trump floated the idea of letting U.S. companies adopt to semiannual corporate reporting rather quarterly. For a day we were all verklempt, torn between the lure of less short-term focus on Wall Street and our…
Read MoreThoughts on Changes to Lease Accounting
Today we pivot back to financial reporting, and the impending new rule on accounting for lease expenses. That rule is coming into effect at the end of this year, and the more you study it, the more implications emerge — for everything from accounting and audit functions, to document management systems, and even incentive compensation.…
Read MoreSEC on Current Accounting Issues
Spring is here, and that means one thing for financial reporting: the annual financial reporting conference at Baruch College in New York, where SEC chief accountant Wes Bricker shows up and tells us what issues are on his team’s mind as they read all your SEC filings. This year was no exception. The conference happened…
Read MoreGuest Column: COSO at a Tipping Point?
Nearly 30 years ago as young bank auditor, I learned about a private sector initiative known as “The Committee of Sponsoring Organizations of the Treadway Commission,” or more simply, “COSO.” It was the mid-1980s. The savings & loan crisis was raging. COSO was, and continues to be, a joint effort of five private sector organizations…
Read MoreAbout Those Tax Reform Bonuses…
Today we step away from corporate compliance for a short detour into financial reporting, tax policy, and corporate governance. All those companies announcing bonuses, raises, and new employee benefits as a result of tax reform may not be as honest about their motives as their breathless press releases say. I did a quick analysis of…
Read MoreSoftware Sector & New Revenue Standard
Today’s post is for all you financial reporting executives out there: a special report on the software sector, and its efforts to prepare for the new revenue recognition standard that’s coming to a balance sheet near you by December. Efforts to prepare, or sometimes the lack thereof. The report, a joint project between Radical Compliance…
Read MoreXBRL Rule Catches Up With Foreign Filers
We missed an important detail in last week’s news that the SEC plans to modernize corporate filings with Inline XBRL technology: for the first time, foreign private issuers trading on U.S. markets will need to start using XBRL as well. XBRL is a technology that allows computers to read and interpret the financial data companies…
Read MoreInline XBRL Is Coming, Thank You Jesus
The SEC on Wednesday proposed requiring that public companies and mutual funds start submitting their financial filings using Inline XBRL—an advance that should make the preparation of financial reports much easier. XBRL is a technology that lets computers digest financial data quickly. It’s a godsend to financial analysts who want to answer specific research questions…
Read MoreKeeping Up With New Going Concern Standard
December 15 rapidly approaches, and financial reporting executives know what that means: new disclosure rules coming into effect for fiscal years ending after that date. The most interesting one may be the new standard for companies to assess their ability to continue as a going concern. The Financial Accounting Standards Board adopted that standard, Disclosure…
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