Welcome to our current edition of The quarter close.
This edition of The quarter close highlights current developments in financial reporting, including key standard-setting developments in revenue, financial instruments, and other hot topics, as well as SEC and PCAOB regulatory updates.
Here's a preview of what you need to know now, and what’s coming in the year ahead:
Front and center. In addition to upcoming leadership changes at the SEC and FASB, standard setting takes the spotlight this quarter. First, find out where the boards landed on transition, effective date, and disclosures for the forthcoming revenue recognition standard. These key decisions bring the boards even closer to a final standard, which could arrive as soon as the second quarter. The FASB also achieved a major milestone by issuing two proposals on financial instruments.
Accounting hot topics. We take a fresh look at timely accounting topics including discretionary accounting changes, share repurchase programs, interim tax reporting, and more. And, we explain the implications of January’s “fiscal cliff” legislation and recent developments in Venezuela.
Hot off the press. The FASB kicked off the year with a number of new proposals. Get the details here. You’ll also want to take note of two final standards effective now: reporting other comprehensive income and a scope clarification for offsetting disclosures.
And more. We explore the impact of the Dodd-Frank Act on non-financial services companies, discuss early trends from the 2013 proxy season, and more.
Download The quarter close: First quarter 2013 to read the full report.
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Also available is The quarter close - Directors edition, our version created specifically for audit committee members and financial experts to keep them informed about the latest accounting and financial reporting issues.