Accounting Roundup: Year in Review — 2012

Published on: 21 Dec 2012

In 2012, the FASB and IASB continued their efforts to converge their various projects. There was also an increased international focus on regulatory and compliance topics such as ethics, professional competency, and professional skepticism. In the United States, the Private Company Council (PCC) was created earlier this year to improve the standard-setting process for private companies. And the SEC, in addition to releasing an order providing relief to filers affected by Hurricane Sandy, issued various final rules and guides.

Accounting Roundup: Year in Review summarizes final guidance that affects reporting and disclosures for the coming reporting season. With the exception of guidance issued in December, proposed guidance, such as exposure drafts and invitations to comment, is not included. Please see our 2012 monthly and quarterly issues of Accounting Roundup for more information about these documents.


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