The Financial Executives International’s (FEI) 34th annual Current Financial Reporting Issues (CFRI) conference took place last week at the Marriott Times Square in the heart of New York City. The CFRI conference provides preparers with the opportunity to build professional networks and hear from representatives across the SEC, FASB and PCAOB as they explore accounting and financial reporting hot topics. This year sessions included: Are You Ready for the Revenue Recognition Revolution?, SEC Comment Letters: Recent Trends and Best Practices, and Data Breach: What to Expect and How to Prepare.
A few months ago, a single e-mail message from someone at Reuters was mistakenly sent to more than 33,000 unintended inboxes. Even worse, it generated days’ worth of responses in what became known on social media as #ReutersReplyAllGate. Among other descriptions, this misstep is a textbook example of a poorly executed feedback loop.
A modification is a change in any term of an award that is not included in your original equity compensation plan such as a change in number of shares, exercise price, transferability features, settlement provisions, or vesting conditions. Modifications to awards can result in additional compensation expense for the company. Below are a few examples of common events that trigger modification accounting, as well as those that do not.
In a recent poll, Certent surveyed a cross section of public and private company webinar attendees to find out what participants felt was their biggest challenge associated with year-end close. Over a quarter of all attendees agreed that the time crunch makes navigating year-end close significantly more challenging. In order to beat the year-end squeeze, there are a few activities that you and your team can plan ahead of time.
If you’re a regular at a particular restaurant and you’re asked what you want to drink, those confident in the waitstaff’s expertise might simply say, “Surprise me.” But no matter how much trust CFOs have earned over the years, it’s unlikely they’ll ever hear similar sentiments when they stand before their audit committee.