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Banks, Businesses Brace For Far-Reaching Accounting Standard Changes

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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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Pulling Back The Curtain On Corporate Finance Reports

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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. Last October, the U.S. Transparency Initiatives Falling Short?

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CFOs Brace For Loan Disruption Amid Accounting Changes

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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. Some companies may seek legal advice on adopting the new standards or interpreting loan covenants.

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Why Corporate Lease Management Is Headed For An Overhaul

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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.”

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Aussie Auditors’ Role In Reverse Factoring Disclosure Questioned

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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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SEC Reignites Supply Chain Finance Debate

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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.

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How Finance Departments Can Mold Risk Mitigation Into Opportunity

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Now, analysts at the International Federation of Accountants (IFAC) are urging ERM to move beyond the c-suite. Professional accountants are well-positioned to better serve the organizations they work for by enabling effective enterprise risk management that identifies both risks and opportunities for the business,” the CEO noted.

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