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UK Tightens Accounting Standards As Corporate Collapses Continue

PYMNTS

have led the Financial Reporting Council (FRC) to enact more stringent accounting standards, The Guardian reported on Monday (Sept. According to reports, the FRC issued an updated going concern standard, adding “significantly stronger requirements” for U.K. More high-profile corporate collapses in the U.K.

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India Gives NBFCs Two Years To Adopt New Accounting Standards

PYMNTS

The Securities and Exchange Board of India will reportedly give non-bank financial companies (NBFCs) two years to adopt and implement changes to accounting standards, the Financial Express reported Wednesday (Sept. Individual Shareholders Society, said in an interview with The Wall Street Journal earlier this year.

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Banks, Businesses Brace For Far-Reaching Accounting Standard Changes

PYMNTS

Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. Experts say the move will not go unnoticed when the accounting standards begin to take effect for public companies in 2021.

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Accounts payable vs. accounts receivable: What are the differences?

ThomsonReuters

GAAP for accounts payable and receivable The Generally Accepted Accounting Principles (GAAP) are a set of rules specific to the United States that are designed to provide oversight for accounting practices. Is invoicing accounts payable or receivable?

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Corporate Investors Irked By Lease Accounting Changes

PYMNTS

The publication reported Thursday (May 2) that the International Financial Reporting Standards will apply to organizations across 140 countries, shifting the way businesses account for their leases in financial statements. “Investors could then ask, ‘What are you doing with all this free cash?'”

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SEC Reignites Supply Chain Finance Debate

PYMNTS

Now, the SEC is urging businesses to disclose their supply chain financing arrangements in their Management’s Discussion and Analysis section of financial statements, reports said. Supply chain financing, also known as reverse factoring, is rarely disclosed on financial statements, said Moody’s. Rising Criticism.

Finance 58
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Pulling Back The Curtain On Corporate Finance Reports

PYMNTS

Corporate accounting standards are changing, with the Financial Accounting Standards Board adopting new standards in ways companies report on leases, hedging and other financial activity. In the U.K., In the U.S., But researchers warn that corporates continue to find ways to hide the bad news.

Finance 55