Blog Article

Weekly Catch-Up 13th November

Monday 18 November 2019

FASB’s hedge accounting standard to be clarified

A proposal by the board at the FASB has called for certain sections of the hedge accounting standard to be clarified. In 2017 the FASB made targeted changes to its hedge accounting standard in the hope of making hedge accounting simpler for preparers and easier for financial statement users to understand.

Read more

KPMG hit with another embarrassment following Halford’s hit

Big four accountancy auditor KPMG’s partner, Peter Meehan is facing more embarrassment after car parts and cycle retailer Halford’s was hit with a £12 million write-down following accountancy changes. Meehan audited the business until 2018 when he was suspended following a regulatory investigation in KPMG’s audits of government outsourcer Carillion.

Read more

Share based accounting update issued by FASB

An accounting standards update was issued on Monday by the FASB to simplify and increase the comparability of accounting for non-employee share based payments, specifically those made to customers.

In a statement FASB chairman Russell G. Golden said “The new standard continues our efforts to simplify and improve reporting of share-based payments — in this case, those paid to customers.”

Read more

Toy making giant Mattel Inc. hides accounting error

The toy making giant Mattel Inc along with auditors at PricewaterhouseCoopers, hid an accounting error that affected its financial results in the second half of 2017, according to a published report. Employees at auditor as well as financial executives at the company discovered the error in early 2018 but it wasn’t reflected accurately until a whistleblower wrote to the company in August, according to the Wall Street Journal.

Read more

About the Author

Related Articles

Do you really want training?

Are you familiar with the saying “people don’t want a quarter-inch drill; they want a quarter-inch...

Read More >

Views from our team - Nick Auer

This month we’re chatting to instructor, Nick Auer about his career path, and life during the last ...

Read More >

Weekly Catch-Up 20th November

A ruling requiring President Trump’s lifelong accountancy firm to turn over his accounts has been t...

Read More >

Weekly Catch-Up 7th November

A report has been published by the private sector working group on euro risk free rates with recomme...

Read More >

Weekly Catch-Up 24th October

A newly implemented accounting standard has caused Google India’s revenue to drop by 56% in the yea...

Read More >

Weekly Catch-Up 11th October

The Financial Reporting Council’s new Chairman has accelerated plans to create a new regulator in o...

Read More >

Stay Updated with IASeminars

Join 20,000+ other professionals on our global mailing list.