Dataline: 2013 year-end financial reporting considerations: Leading practices, lessons learned, and reminders

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Dataline 12/19/2013 by Assurance services
Dataline: 2013 year-end financial reporting considerations - Leading practices, lessons learned and reminders

At a glance

While not an all-inclusive list, this Dataline provides timely reminders for companies navigating the year-end financial reporting process. While many of the topics are not new, they continue to be challenging, based on SEC staff comment letters, restatements, revisions, and our own observations.

In this Dataline, we take a look at aspects of financial reporting that have continued to present challenges to financial statement preparers, and transactions and arrangements prevalent in today’s economic environment that have unique or complex accounting implications.

Topics include: cash flows, other comprehensive income, revenue recognition, income taxes, segments, impairment of long-lived assets, goodwill – qualitative impairment test, variable interest entities, equity method investments, asset acquisition versus business, accounting changes and error corrections, use of overnight index swap rate in derivatives valuation, fair value hierarchy, equity-linked financing instruments, extinguishment gain when debt holder owns equity, contingencies, and stock-based compensation.


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