New revenue recognition standard procrastination
Accounting Today reports that the Center for Audit Quality has issued a document to help audit committees crack the whip on all those companies who've been dragging their feet on the new revenue recognition standard.
Adventures in non-GAAP accounting
The Wall Street Journal reports on a study from the CFA Institute that points out that 80% of the S&P 500 and FTSE 100 "use financial measures outside of generally accepted accounting principles, and that could mislead investors." So I guess "could" leaves open the door to the possibility that some of the financial measures could be good instead of evil.
Fortune now has a 50 Best Workplace for Parents list and there are five accounting firms on it with PwC ranked #1.
Mileage rates are down again so if you work at one of those firms, make sure someone updates your expense reimbursement spreadsheet accordingly.
Previously, on Going Concern…
In Open Items, someone asked about all those Big 4 layoff rumors floating around.
In other news:
- The Perfect Weapon: How Russian Cyberpower Invaded the U.S.
- Tech Leaders To Meet With President-Elect Trump
- “Reilly’s Thirteenth Law of Tax Planning: ‘When an idea makes you think of a Seinfeld episode, it is not going to end well.'” (via Joe Kristan)
- Deferred Taxes and Tax Reform: Is a Big (Fictional) Accounting Gain in the Future?
- A Taxing Review of the Twelve Days of Christmas
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