Reporting Archives - Strategic Finance

Human Capital Resources: MD&A Disclosures

Amendments to Regulation S-K require new disclosures of companies’ human capital resources as a part of ESG reporting.

New Reporting of Beneficial Owners

Small private companies will now have to report their “beneficial owners” to the U.S. Department of the Treasury’s FinCEN.

IIRC Revises International Framework

The IIRC revised its International Framework to simplify the required statement of responsibility and improve reporting.

Financial and Sustainable Reporting Converge

Financial and sustainable business reporting are converging thanks to the European Commission and technological advancements.

Human Capital Reporting

The SEC’s proposed changes to human capital reporting have consequences for how companies measure their employees’ value.

Analyzing Performance Under ASC 842

The new leasing rules could impact companies’ key financial ratios and complicate benchmarking and performance measurement.

Clawback Provisions for Executive Compensation

Accountants must understand the impact clawback provisions have on bonuses, company reporting, and earnings expectations.

Understanding the Electric Vehicle Credit

Taxpayers who buy electric vehicles must meet several criteria to receive the full tax credit allowed by the IRC.

Lower the Costs of Your External Audit

Finance professionals’ advanced preparations and clear communications are the keys to a smooth, efficient audit process.

Aiding or Abetting Understatement Penalties

There’s no statute of limitations to the penalties for helping taxpayers to understate their tax liability under IRC §6701.

FASB Eases Credit Losses Transition

The FASB has issued ASU 2019-05 for a 2016 standard to offer a new method for measuring current expected credit losses.

SEC Wants to Expand “Test the Waters”

The SEC has proposed allowing more companies to engage in oral or written communications with potential investors.

Congress Could Widen Audit Exemption

A bill would help emerging growth companies increase the effectiveness of their internal controls for financial reporting.

Is Cash Still Trapped?

The Tax Cuts and Jobs Act removed barriers for U.S. multinationals to repatriate earnings. Did it work?

SASB Names New CEO

The Sustainability Accounting Standards Board (SASB) named Madelyn Antoncic as its new CEO as of February 2019.

Businesses Back Financial Reporting Reform

The SEC’s proposed changes to Rules 3-10 and 3-16 are receiving support from companies in a variety of industries.

Evolving Investor Relations

Companies need to change the way they interact with the investing community and what information they report.

Regaining Relevance in Financial Reporting

Mark Frigo talks with Baruch Lev about bringing the focus back to clearly communicating to investors how a company creates value.

The New Revenue Recognition Rules

The new rules require more estimates and greater judgment. Are you up to speed on the changes and their potential impact?

Getting a Better Handle on Compliance and Controls

Effectively managing internal controls to support financial reporting is critical in today’s the complex regulatory landscape.

Further Exemptions from SEC Auditor Attestation Requirement Likely

The Securities & Exchange Commission will look at the thresholds that trigger Section 404(b) of the Sarbanes-Oxley Act.

SEC May Make Changes to Auditor Independence Rules

The SEC may change rules that relate to auditors who may have a lending relationship with shareholders of an audit client.

Survey: ASC 606 Adoption

An Intelligize survey found that 87% of S&P 500 companies are choosing to use the modified retrospective transition method.

The Ethicality of Earnings Management

A study finds that managers consider public perceptions when deciding whether they should participate in earnings management.

Sec Issues 300-Plus-Page Disclosure Reform Rule

The SEC issued a final rule on disclosure simplification that includes changes to Regulations S-X and S-K.

Painting a Picture with Performance Reporting

Turn operational and financial results into a descriptive narrative to enhance understanding of your company’s performance.

An Update on the FRC

IMA’s Financial Reporting Committee met with the FASB’s Marsha Hunt to discuss new standards and regulatory changes.

Building Confidence in Nonfinancial Reporting

With nonfinancial information growing in importance, ensuring its integrity is vital. Internal controls and technology can help.

SEC Cybersecurity Risk Reporting Guidance

The guidance published in February 2018 addressed 10-K and 10-Q disclosures about cybersecurity risks.

Maintaining Relevance in the Digital Age

Management accountants need to leverage their unique understanding of cost modeling to guide organizational decision making.

OIS: Next Generation Budgeting

Improve processes and overcome the inadequacies of standard budgeting through the use of an operational income statement.

5 Principles of Report Design

Accuracy, consistency, appearance, efficiency, and usability are the five guiding principles to improve your financial reports.

Useful Budget Add-ons

Get more insights out of your budgeting process by including organic growth, inorganic growth, and capacity costs.

Integrating Nonfinancials to Create Value

Japanese companies have long been at the forefront at showing how nonfinancial metrics and intangibles impact corporate value.

XBRL, Blockchain, and New Technologies

New technologies and the internet’s culture of openness are transforming business reporting and data analytics.

The Impact of Share-Based Compensation

A look at company financial reports helps settle the debate on whether stock-based compensation has a real cost to companies.

XBRL and the Cloud

Implementing XBRL with the right cloud-based solutions greatly improve financial and business reporting processes.

RegTech Is in Fashion

Brad Monterio and Anne Leslie-Bini discuss RegTech, a way to leverage technology to help companies remain compliant.

Survey: Ready for New Lease Accounting Standards?

A Deloitte survey asks executives how prepared they were for compliance with the new leasing standards.

The Power of Intangibles

Current financial accounting and reporting need to expand to better capture intangible assets beyond the balance sheet.

The External Auditing View from Outside

A survey funded by the IMA Research Foundation explores how external auditors are influenced when internal auditors fail to detect a problem.

Changes Ahead for Reducing Compensation Ratios?

Acting SEC chairman Michael Piwowar directed staff to reconsider select disclosure rules in the Dodd-Frank Act.

The Problem with Non-GAAP Earnings

The growing use of non-GAAP measures in corporate earnings releases could potentially mislead or confuse investors.

Books: The Path Forward in Accounting

Baruch Lev and Feng Gu propose an approach to financial accounting that provides more relevant information to investors.

OIS for the Operational CFO

The operational income statement could be the model needed to seamlessly integrate financial information with operational data.

Reactions to Schedule UTP

How companies complete Schedule UTP provides the IRS with greater insight into the various uncertain tax positions being reported.

WHY ISN’T COMPREHENSIVE INCOME COMPREHENSIBLE?

The lack of a conceptual definition of other comprehensive income creates confusion for companies and users of financial statements.

Richard Howitt Named IIRC CEO

A former Member of the European Parliament, Howitt has long been an advocate for integrated reporting.

IAASB: New Credibility and Trust Paper

The IAASB issues a discussion paper addressing emerging forms of external reporting.

No More Hiding Lease Liability

With the new FASB standard, companies will no longer be able to hide lease liabilities off the balance sheet.

The Next Frontier in Sustainability

SASB is developing industry-specific standards to help businesses provide a more complete view of all the factors impacting their value.

Book Review: The FASB’s Process

Management accountants should have a deep understanding of and become more involved with the FASB.

VARIATIONS IN P/E

The P/E ratio can vary widely. Make sure you’re using the values most appropriate for your needs.

WILL INTANGIBLES TRIP YOU UP?

Companies engaged in acquisitions need to be familiar with how to properly account for indefinite-lived intangible assets.

Preparing for ASC 606

Get ready before implementation with a change management plan that includes an effective workforce strategy.

What’s Next for Corporate Reporting?

Former FASB Chairman Bob Herz is working with SASB to influence the next generation of corporate reporting.

Internal Reporting with XBRL Global Ledger

Create business reports in XBRL GL format to enhance reporting and decision-making capabilities.

SUSTAINABILITY REPORTING

Industry-specific metrics help companies integrate sustainability efforts into performance management systems and strategy.

Taxes: Applying the Understatement Penalty

A Chief Counsel Advice memorandum describes specific situations where the understatement penalty for tax preparers may or may not apply.

TAXES: SUPREME COURT RULES ON MARYLAND TAX CREDIT

The Court’s ruling against Maryland’s income tax scheme may impact other states with similar policies.

Working with Auditors: Tips and Traps

With regulators mandating that finance executives work more closely with auditors, here’s some advice to help management accountants.

Asset capitalization thresholds: Is Diversity a Good Thing?

A survey of finance executives examines the differences in companies’ asset capitalization thresholds.

TAXES: REPORTING A FOREIGN GIFT OR BEQUEST

Gifts or bequests from sources outside the U.S. should be reported to the IRS if they surpass certain thresholds.

Disclosure Simplification on Senate Agenda

With Republicans now holding the majority in the Senate, attention will turn to passing financial reporting and Dodd-Frank reform bills.

Intercompany Transactions Can Snowball

Tracking, settling, and reconciling intercompany transactions can be a burdensome process. Technology offers a solution.

GOVERNMENT: A Push for More PBM Cost Transparency

DOL officials are waiting for the final report from the ERISA Advisory Committee.

Government: Relief from Dodd-Frank Rules?

House passes Promoting Job Creation and Reducing Small Business Burdens Act, but Obama threatens to veto.

Financial Supply Chain Management

FSCM has different meanings in different contexts, but they share the common theme of improving financial operating processes.

TAXES: TAXPAYERS AND IDENTITY THEFT

If worrying about identity theft isn’t bad enough, you also need to consider your tax situation.

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