CCR Responds to the FASB on ASU 2011-05 Comprehensive Income
The Committee on Corporate Reporting of Financial Executives International is writing to share its insights into certain interpretive and implementation issues that have arisen with respect to ASU 2011-05, Comprehensive Income. As this ASU is effective in the first quarter of 2012 for calendar year reporting companies, we believe that these matters should be addressed as soon as possible.
U.S. Government AAA Rating Threatened By Debt-Ceiling Indecision, Says Moody's
Moody's Investor Service announced on June 2 that if Democrats and Republicans cannot compromise to raise the debt limit, the U.S. government rating will be under review for possible downgrade from its current AAA rating.
United States Hits $14.3 Trillion Statutory Debt Ceiling
President Obama Offers $3.7 Trillion Budget For FY 2012
On Feb. 14, President Barack Obama offered his fiscal year 2012 budget blueprint to Congress. The $3.7 trillion proposal is aimed at reducing deficits by more than $1.1 trillion in the next 10 years through spending cuts, freezes and revenue raisers. Even with these measures, the immediate fiscal crisis is still a major problem as the administration forecasts the deficit to reach $1.645 trillion
Senate Repeals 1099 Reporting Requirement; Action Moves To The House
On Feb. 2, 2011 the Senate adopted an amendment to the FAA reautorization bill to repeal the 1099 reporting requirement created by the Patient Protection and Affordable Care Act.
Washington Insights: October 10
Ben Franklin long ago remarked, “[I]n the world, nothing can be said to be certain except death and taxes.” More than 200 years later, a lot of knowledgeable people have opinions and forecasts about the upcoming midterm elections, but it’s impossible to know for certain how things will turn out.
Cover Story: October 10
The congressional election season is shaping up as one of the most consequential in recent years as poll after poll points to a big change in the balance of power coming to the U.S. Congress.
Editor´s Page: October 10
In considering some of my previous columns, I note a thread running through much of my writing: A great deal of my message pertains to the regulatory and political climate, which in a sense directs much of the work you do.
FEI CPC-S letter to FASB proposed Statement of Financial Accounting Concepts, Conceptual Framework
The Committee on Private Company Standards (CPC-S) of Financial Executives International (FEI) wishes to express its views on the Financial Accounting Standards Board’s (FASB’s) Exposure Draft (ED) of a proposed Statement of Financial Accounting Concepts, Conceptual Framework for Financial Reporting: The Reporting Entity.