According to Accounting Today, the Financial Standards Accounting Board’s recent roundtable discussions centered on new guidance about lease implementation for public and nonpublic organizations, and what we can expect for non-public implementation next year. Questions: Why didn’t participants at the Sep. 2020 FASB Roundtable want sweeping changes to lease guidance? According to the article, why… Read more »
Posts Tagged: Financial Disclosures
SEC goes after COVID disclosures
According to Accounting Today, the U.S. Securities and Exchange Commission (SEC) said it has settled charges against Cheesecake Factory Inc. over “materially false and misleading” statements after the restaurant chain failed to disclose the financial impact of the coronavirus pandemic earlier this year. Questions: What was the penalty? According to SEC’s order, how much was… Read more »
Health Reform and Payments to Doctors
In September 2009, Merck & Co. Inc. announced that they will be the largest drug company to publish details of payments to doctors. The prescription drug industry has met with growing criticism about its lack of disclosure regarding payments that may influence drug prescribing. As the second-largest U.S. drug company, the company vowed to begin… Read more »