The FASB proposed an ASU on long-duration contracts today. The FASB issues proposed Accounting Standards Update (ASU) that would grant all insurance companies that issue long-duration contracts, such as life insurance and annuities, additional time to apply a standard that addresses this area of financial reporting. Stakeholders are encouraged to review and provide comment on the […]
Archives for 2019
U.S. regulators hand Wall Street a major win with stripped-down ‘Volcker Rule’
U.S. banking regulators on Tuesday approved changes easing a rule introduced after the 2007-2009 financial crisis that bans banks from trading on their own account, giving Wall Street one of its biggest wins under the Trump administration.
Podcast: Are we headed for recession or not?
In this episode, Bob Keebler, CPA/PFS interviews Dr. Robert LeClair about the recent market volatility and the lower interest rate environment, including: What is an inverted yield curve? What is the significance of an inverted yield curve? What defines a recession? What are the key indicators to look for when recession may be on the […]
Oil up 1% after attack on Saudi field, but OPEC report caps gains
Oil prices were up more than 1% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces and as traders looked for signs that top economies would take measures to counteract a global slowdown.
Why Audit Quality Matters
Why does audit quality matter? Well, first and foremost, the audit landscape has changed due to changing peer review requirements. To explain, the AICPA’s Enhancing Audit Quality Initiative brought to light numerous deficiencies identified during peer review. Therefore, it is important for firms to be aware of the deficiencies the AICPA identified, and ensure their […]
HMRC delay PAYE refunds
On 4 October 2018 the government issued a press release which stated that new measures were in place to end the problem of late payments to small businesses. It stated that nearly a quarter of small businesses suffer from late payments which threaten their survival. It talked about the Prompt Payment Code and the plan […]
Lebanon’s Aoun vows to tend to economic, financial reforms
Lebanon is expected to begin implementing in October a set of economic and financial measures agreed by its top leadership that will boost economic growth, President Michel Aoun said on Sunday, vowing that he would to tend to this himself.
Exclusive: U.S. set to give Huawei another 90 days to buy from American suppliers – sources
The U.S. Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers, two sources familiar with the situation said.
Oil rises alongside equities, but weak OPEC outlook caps gains
Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns.
Premium brews in Asia stoke Carlsberg’s half-year sales
Danish brewer Carlsberg posted a solid rise in half-year sales thanks to Asian markets, where consumers are trading up from mainstream beers to pricier premium brands, lifting its shares 5 percent on Thursday.