article thumbnail

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.

article thumbnail

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. But researchers warn that corporates continue to find ways to hide the bad news. In the U.K., In the U.S.,

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Why Corporate Lease Management Is Headed For An Overhaul

PYMNTS

Along with regulatory action from tax reform and tougher Know Your Customer (KYC) rules adding the pressure of complex red tape, public companies need to add one more compliance concern to their list: changes to accounting standards by the Financial Accounting Standards Board (FASB). “In many ways, they are.”

article thumbnail

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.

article thumbnail

SEC Reignites Supply Chain Finance Debate

PYMNTS

Securities and Exchange Commission is turning its attention to a lack of transparency within corporates’ investor disclosures as more businesses use supply chain financing. Reports in Bloomberg Tax this week said SEC Corporation Finance Deputy Chief Accountant Lindsay McCord spoke Tuesday (Dec.

Finance 58
article thumbnail

CFOs Brace For Loan Disruption Amid Accounting Changes

PYMNTS

Corporates are gearing up to manage a whole slew of accounting standards changes in the coming years, but one of the more immediate effects involves how leases are recorded on financial statements.

article thumbnail

How Finance Departments Can Mold Risk Mitigation Into Opportunity

PYMNTS

Today, external auditors and accountants are facing rising pressure to mitigate risk amid market volatility, with analysts pointing to increased auditing fees last year as accounting standards tighten.

Finance 74