The quarter close: A look at this quarter's financial reporting issues -- Second quarter 2012

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Welcome to the second quarter 2012 edition of The quarter close. This summer, we’ll be cheering on the athletes at the 2012 Olympic Games in London. But there’s plenty of action to follow here at home, too.

After vigorous debate, the landmark JOBS Act became law, giving start-up companies a leg up on the “going public” process. Meanwhile, a packed standard-setting agenda and anticipation over the SEC’s next move on IFRS have many paying close attention. Here’s a preview of the topics you’ll find in this edition:

Front and center. First up, we provide highlights of the newly enacted JOBS Act. In addition, private and public companies alike will have an interest in the final plan for private company standard-setting announced this quarter. And, get breaking news on a key decision from the standard setters on the leases project.

Accounting hot topics. We’ve assembled a diverse list of topics, ranging from an update on how U.S. companies could be affected by Eurozone uncertainty to the complexities of “push-down” accounting. Also, find out how an upcoming Supreme Court ruling could affect your second quarter financial statements.

Hot off the press. Get the rundown on three exposure drafts from the EITF. And, you’ll want to take a closer look at a soon-to-be-released proposal that requires all companies to provide new risk disclosures.

And lots more. We also update you on the PCAOB’s ongoing initiatives, the status of Dodd-Frank, and other standard-setting activity. Lastly, we provide some important reminders about the Foreign Corrupt Practices Act—a topic that should be on every company’s radar.