Can the FASB Regain Its Mojo? Ciesielski, Jack T.
Accounting horizons,
06/2022, Letnik:
36, Številka:
2
Journal Article
Recenzirano
Odprti dostop
SYNOPSIS
In recent years, the FASB has concerned itself with simplification of accounting standards, rather than prioritizing the improvement of financial reporting for the benefit of investors. ...While companies grow more complex and larger, and place more investments in intangible assets, financial reporting has not kept pace. This is making financial statements less relevant than ever. In its nearly 50-year history, FASB has responded well to the needs of investors when circumstances demanded an effective response. This was evidenced by its relatively speedy, experimental approach to inflation accounting in the late 1970s. Contrast that to its slow-motion response on intangible asset recognition and disclosures, a project languishing over 20 years. FASB's agenda has become clogged as the board devotes more of its attention and resources to the Private Company Council's needs. An open question: can the FASB regain its former intense focus on investor needs and put aside simplification efforts?
Non‐GAAP reporting: Evidence from academia and current practice Black, Dirk E.; Christensen, Theodore E.; Ciesielski, Jack T. ...
Journal of business finance & accounting,
March/April 2018, 2018-03-00, 20180301, Letnik:
45, Številka:
3-4
Journal Article
Recenzirano
The number of firms reporting earnings on a non‐GAAP basis has increased dramatically over the last decade, and non‐GAAP reporting is now commonplace in capital markets. This proliferation of ...non‐GAAP reporting has renewed both regulators’ and standard setters’ interests in these alternative performance metrics. For example, the SEC, FASB, and IASB have all recently questioned what this increasing reporting trend means for IFRS‐ and US‐GAAP‐based reporting and whether these measures are misleading to investors. This increasing focus on non‐GAAP metrics motivates us to synthesize the nearly two decades of research on non‐GAAP reporting to provide insights on what academics have learned to date about this reporting practice. Then, we utilize a novel dataset of detailed non‐GAAP disclosures to provide new descriptive evidence on current trends in non‐GAAP reporting and its recent proliferation. Finally, we discuss important questions for future researchers to consider in moving the literature forward.
The increasingly pervasive reporting of non-GAAP earnings poses fundamental challenges for investors and analysts. Non-GAAP earnings lack comparability, and related disclosures lack sufficient ...transparency to add comparability. In addition, non-GAAP earnings disclosures may raise potentially troubling questions about management's motivation. We incorporate relevant research in our discussion and conclude with key prescriptions in assessing non-GAAP earnings.
SEC's Last Say on IFRS Work Plan: They're Not Saying Ciesielski, Jack T.; Weirich, Thomas R.
The Journal of Corporate Accounting & Finance,
March/April 2013, Letnik:
24, Številka:
3
Journal Article, Trade Publication Article
SEC Issues in 2013 Ciesielski, Jack T.; Weirich, Thomas R.
The Journal of Corporate Accounting & Finance,
May/June 2013, Letnik:
24, Številka:
4
Journal Article, Trade Publication Article
Current financial reporting issues Ciesielski, Jack T.; Weirich, Thomas R.
The Journal of Corporate Accounting & Finance,
May/June 2011, Letnik:
22, Številka:
4
Journal Article, Trade Publication Article
Current issues challenging the profession Ciesielski, Jack T.; Weirich, Thomas R.
The Journal of Corporate Accounting & Finance,
May/June 2010, Letnik:
21, Številka:
4
Journal Article, Trade Publication Article
New Accounting for Lessees Ciesielski, Jack T.; Weirich, Thomas R.
The Journal of Corporate Accounting & Finance,
01/2010, Letnik:
21, Številka:
2
Journal Article, Trade Publication Article
