GASB

New Study from NCPERS Lays Out Case for Revamping Pension Accounting Standards

Retrieved on: 
Monday, July 8, 2019
Finance, Accounting, Professional services, Human resources, Economy, Accounting, Service industries, Accounting standards, GASB, Governmental Accounting Standards Board, Pension, Governmental accounting, Other postemployment benefits, GASB 45

Public pension accounting methodologies devised by the Governmental Accounting Standards Board (GASB) produce flawed results and are in urgent need of improvement, according to an independent study released by the National Conference on Public Employee Retirement Systems (NCPERS).

Key Points: 
  • Public pension accounting methodologies devised by the Governmental Accounting Standards Board (GASB) produce flawed results and are in urgent need of improvement, according to an independent study released by the National Conference on Public Employee Retirement Systems (NCPERS).
  • GASB rules can mislead decision-makers views as to the health of a pension system, prompting poor decisions, the study found.
  • As a result, the strength of the economy behind the pension plan counts for nothing from an accounting perspective.
  • For example, the study made the case for abandoning the funding ratio as a key indicator of pension systems health.

LeaseAccelerator Kicks off Fourth Enterprise Lease Accounting Summit in Texas

Retrieved on: 
Tuesday, June 11, 2019
Technology, Data management, Networks, Software, Professional services, Accounting, Banking, Finance, Economy, Accounting, Corporate finance, Financial regulation, International Financial Reporting Standards, GASB, Accounting software, Financial statement, Leasing, Accounting standards

LeaseAccelerator, the pioneer in Enterprise Lease Accounting software, will kick off the fourth annual Enterprise Lease Accounting Summit on Wednesday, June 12th in Fort Worth, Texas at 8:42am CDT.

Key Points: 
  • LeaseAccelerator, the pioneer in Enterprise Lease Accounting software, will kick off the fourth annual Enterprise Lease Accounting Summit on Wednesday, June 12th in Fort Worth, Texas at 8:42am CDT.
  • We are thrilled to see double the attendance at this years Enterprise Lease Accounting Summit with registrants coming from as far away as Portugal and Australia, said Michael Keeler, CEO of LeaseAccelerator.
  • The 2020 Enterprise Lease Accounting Summit is scheduled for May 19-21 in Nashville, Tennessee.
  • About Enterprise Lease Accounting Summit:
    Enterprise Lease Accounting Summit is the financial reporting industrys largest conference dedicated to the successful adoption of ASC 842, IFRS 16, and GASB 87.

FAF Appoints Carolyn Smith to Governmental Accounting Standards Board

Retrieved on: 
Wednesday, May 22, 2019
Professional services, Accounting, Banking, Consulting, Finance, Accounting, Accounting standards, Economy of the United States, Business, Financial Accounting Foundation, GASB, Financial Accounting Standards Board, Accounting Standards Board, FAF, Governmental Accounting Standards Board, Generally Accepted Accounting Principles

The Board of Trustees of the Financial Accounting Foundation (FAF) today appointed Carolyn Smith to a five-year term on the Governmental Accounting Standards Board (GASB).

Key Points: 
  • The Board of Trustees of the Financial Accounting Foundation (FAF) today appointed Carolyn Smith to a five-year term on the Governmental Accounting Standards Board (GASB).
  • View the full release here: https://www.businesswire.com/news/home/20190522005028/en/
    The FAF Board of Trustees is pleased to welcome Carolyn to the GASB, said FAF Chairman Charles H. Noski.
  • Established in 1972, the Financial Accounting Foundation (FAF) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).
  • The Financial Accounting Foundation (FAF) supports and oversees the GASB.

LeaseAccelerator to host fourth annual lease accounting summit in Texas

Retrieved on: 
Wednesday, May 8, 2019
Economy, Accounting, Leasing, Finance, International Financial Reporting Standards, United States Generally Accepted Accounting Principles, IFRS 16, IFRS 1, GASB, Operating lease

FORT WORTH, Texas, May 8, 2019 /PRNewswire/ --LeaseAccelerator, the pioneer in Enterprise Lease Accounting software, announced today that it is the lead sponsor of the fourth annual Enterprise Lease Accounting Summit at The Worthington Renaissance in Fort Worth, TX on June 12.

Key Points: 
  • FORT WORTH, Texas, May 8, 2019 /PRNewswire/ --LeaseAccelerator, the pioneer in Enterprise Lease Accounting software, announced today that it is the lead sponsor of the fourth annual Enterprise Lease Accounting Summit at The Worthington Renaissance in Fort Worth, TX on June 12.
  • The summit will focus on helping financial, accounting and IT professionals successfully transition to the new ASC 842, IFRS 16 and GASB 87 standards.
  • "The Enterprise Lease Accounting Summit is the only event 100% focused on the new global standards.
  • About Enterprise Lease Accounting Summit:
    Enterprise Lease Accounting Summit is the financial reporting industry's largest conference dedicated to the successful adoption of ASC 842, IFRS 16, and GASB 87.

Teresa S. Polley to Step Down as President and CEO of Financial Accounting Foundation

Retrieved on: 
Friday, April 26, 2019
Professional services, Banking, Finance, Accounting, Accounting standards, Economy, Business, Financial Accounting Foundation, Governmental Accounting Standards Board, Financial Accounting Standards Board, Polley, GASB, FAF, Teresa S. Polley, Generally Accepted Accounting Principles

Teresa S. Polley today announced her decision to resign as President and CEO of the Financial Accounting Foundation (FAF) after eleven years leading the organization.

Key Points: 
  • Teresa S. Polley today announced her decision to resign as President and CEO of the Financial Accounting Foundation (FAF) after eleven years leading the organization.
  • The FAF Board of Trustees , in accordance with its existing succession plan, has named Vice President and General Counsel John W. Auchincloss as Acting President.
  • He will serve upon the conclusion of Polleys tenure as President and CEO, and until a permanent replacement for Polley is named.
  • Established in 1972, the Financial Accounting Foundation (FAF) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

Financial Accounting Foundation Reappoints Chairman Charles H. Noski; Appoints Two New Trustees

Retrieved on: 
Friday, April 19, 2019
Professional services, Accounting, Banking, Finance, Accounting, Financial Accounting Foundation, Economy, Business, GASB, FAF, Accounting standards, Financial Reporting Council, Charles Noski, Governmental Accounting Standards Board, United States Generally Accepted Accounting Principles

The Board of Trustees of the Financial Accounting Foundation ( FAF ) today announced the reelection of Charles H. Noski as chairman of the FAF Board of Trustees for an additional term ending December 31, 2019.

Key Points: 
  • The Board of Trustees of the Financial Accounting Foundation ( FAF ) today announced the reelection of Charles H. Noski as chairman of the FAF Board of Trustees for an additional term ending December 31, 2019.
  • The FAF also announced the appointments of two new Trustees, Mary E. Barth and David H. Lillard, Jr., effective April 16, 2019.
  • The FAF Board of Trustees is pleased to welcome Mary and David as its newest members, said Noski.
  • Established in 1972, the Financial Accounting Foundation (FAF) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

FAF Trustees Appoint Susan M. Cosper to Financial Accounting Standards Board

Retrieved on: 
Thursday, April 18, 2019
Professional services, Accounting, Banking, Finance, Accounting, Accounting standards, Business, Economy of the United States, Financial Accounting Foundation, Financial Accounting Standards Board, Governmental Accounting Standards Board, GASB, Accounting Standards Board, Generally Accepted Accounting Principles, Accounting Standards Codification

The Board of Trustees of the Financial Accounting Foundation ( FAF ) today announced the appointment of Susan M. Cosper to the Financial Accounting Standards Board ( FASB ).

Key Points: 
  • The Board of Trustees of the Financial Accounting Foundation ( FAF ) today announced the appointment of Susan M. Cosper to the Financial Accounting Standards Board ( FASB ).
  • View the full release here: https://www.businesswire.com/news/home/20190418005015/en/
    On behalf of the FAF Board of Trustees, I am very pleased that Sue will be joining the FASB as a member, said Charles H. Noski , chairman of the FAF Board of Trustees.
  • Established in 1972, the Financial Accounting Foundation (FAF) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).
  • The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports.

FAF Opens Nominations for FASB and GASB Chair Positions

Retrieved on: 
Monday, April 1, 2019
Professional services, Accounting, Banking, Consulting, Finance, Accounting, David A. Vaudt, GASB, Accounting standards, United States Generally Accepted Accounting Principles, Economy of the United States, Business, Financial Accounting Standards Board, Generally Accepted Accounting Principles

Both the current FASB Chairman, Russell G. Golden , and the current GASB Chairman, David A. Vaudt , will conclude their terms on June 30, 2020.

Key Points: 
  • Both the current FASB Chairman, Russell G. Golden , and the current GASB Chairman, David A. Vaudt , will conclude their terms on June 30, 2020.
  • Ideal candidates for the FASB and the GASB chair positions should possess these critical competencies for success in each role:
    Commitment and passion for the Boards mission.
  • More information on the FASB Chair and GASB Chair positions, including applications, can be found here .
  • For more information on the FAFs recruitment process, including a brief video about the FASB and GASB Chair searches , visit the FAF website .

FAF Trustees Reappoint Brian W. Caputo to GASB

Retrieved on: 
Tuesday, February 26, 2019
Professional services, Accounting, Banking, Consulting, Finance, Accounting, Accounting standards, Business, Economy of the United States, Financial Accounting Foundation, GASB, Financial Accounting Standards Board, Governmental accounting, Accounting Standards Board, Governmental Accounting Standards Board, GASB 45

The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the reappointment of Brian W. Caputo to a second term on the Governmental Accounting Standards Board (GASB).

Key Points: 
  • The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the reappointment of Brian W. Caputo to a second term on the Governmental Accounting Standards Board (GASB).
  • The FAF is the independent, private-sector organization responsible for the oversight of the GASB and its sister standard setter, the Financial Accounting Standards Board (FASB).
  • The Board of Trustees is pleased Brian will serve another term on the GASB, said FAF Chairman Charles H. Noski.
  • His broad experience and perspective as a long-time preparer of public sector financial statements are valuable resources to the GASB.