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UK Tightens Accounting Standards As Corporate Collapses Continue

PYMNTS

More high-profile corporate collapses in the U.K. 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.

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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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Guide to accountant responsibilities

ThomsonReuters

Furthermore, accountants are increasingly focusing on a particular vertical or niche to further boost their competitive edge. Accounting assumptions In an effort to help ensure information is reliable and consisten t, accounting assumptions are a set of guidelines that indicate how a company operates and business transactions are recorded.

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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. ’s 9,000 publicly listed companies spiked in 2018 after consistent declines since 2006. In the U.K.,

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Top accounting issues in 2023

ThomsonReuters

Accounting standards In recent years, the accounting profession has seen its share of changes in accounting standards , including the new revenue recognition standard and more recently, the new lease accounting standard (ASC 842).

Account 52
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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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Aussie Auditors’ Role In Reverse Factoring Disclosure Questioned

PYMNTS

Several high-profile corporate collapses and initiatives from corporate accounting standard-setters have raised questions about businesses’ use of supply chain finance and whether the trade finance tool prevents investors and auditors from gaining a transparent view into company finances.

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