Author Archive | Jack Ciesielski

Volume 26, No. 8

In the “PC era” (that’s PC as in “pre-convergence”) the accounting standards for financial instruments were quite similar for both U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). Once convergence efforts began in earnest in 2007, the standard setters sought to reach common standards in three major financial instrument areas: their…

Continue Reading

Volume 26, No. 5

A New Recipe For Pension & Other Postretirement Benefits Reporting:  In mid-2015, FASB added a project intended to improve the convoluted presentation of net periodic pension cost and net periodic postretirement benefit cost. In less than three years – a virtual wind sprint for the standard setter –  they issued a final standard that just…

Continue Reading

The Non-Discussion About IFRS

Last week, I attended the AICPA’s annual “SEC & PCAOB Current Events Conference” – like hundreds of other CPAs needing their annual fix of information, gossip and camaraderie, though not necessarily in that order. I’ve been a steady attendee for a long time (since 1988), so I notice differences emerging from the conferences over the…

Continue Reading

The SEC’s Disclosure Update & Simplification Proposal

Last July, the SEC proposed an “update and simplification” of its disclosure rules. The roots of this  project came from the JOBS Act of 2012, and its growth was hurried along by the FAST Act of 2015. The proposal has some good things going for it, like removing references to implementation dates for standards that…

Continue Reading

Powered by WordPress. Designed by WooThemes