The Securities and Exchange Commission (SEC) has issued Proposed Rulemaking Release No. 33-10668, Modernization of Regulation S-K Items 101, 103, and 105, which would amend the following Regulation S-K disclosure items: (1) Item 101, Description of Business, (2) Item 103, Legal Proceedings, and (3) Item 105, Risk Factors, to improve the information content of such items and simplify registrant compliance. The proposed amendments, which are part of the SEC’s broader Disclosure Effectiveness Initiative, reflect changes that have occurred in the capital markets and in the availability of information.
The Securities and Exchange Commission today provided guidance to assist investment advisers in fulfilling their proxy voting responsibilities. The guidance discusses, among other matters, the ability of investment advisers to establish a variety of different voting arrangements with their clients and matters they should consider when they use the services of a proxy advisory firm.
It’s important for franchisors to periodically audit individual franchisees. These routine “check-ups” are especially valuable in a store’s early years of operations or if performance starts to deteriorate. They can be used to detect symptoms of unhealthy performance and treat problems before they spiral out of control.
Focus on royalty payments
In July, the Public Company Financial reporting generally focuses on the results of continuing operations. But sometimes businesses sell (or retire) a product line, asset group or another component. In certain situations, such a disposal should be reported as a discontinued operation under U.S. Generally Accepted Accounting Principles (GAAP). Starting in 2015, the rules changed, limiting the scope of transactions that must comply with the complex rules for discontinued operations.
In July, the Public Company Accounting Oversight Board (PCAOB) published two guides to help clarify a new rule that requires auditors of public companies to disclose critical audit matters (CAMs) in their audit reports. The rule represents a major change to the brief pass-fail auditor reports that have been in place for decades.
On July 17, the Financial Accounting Standards Board (FASB) unanimously voted to propose a sweeping set of split deferrals for certain entities. The proposal, which is expected to be published in August, would delay new accounting rules for 1) leases, 2) credit losses on loans, 3) long-term insurance contracts, and 4) hedge accounting...
In July, the Public Company Accounting Oversight Board (PCAOB) published two guides to help clarify a new rule that requires auditors of public companies to disclose critical audit matters (CAMs) in their audit reports. The rule represents a major change to the brief pass-fail auditor reports that have been in place for decades.
On July 17, the Financial Accounting Standards Board (FASB) unanimously voted to propose a sweeping set of split deferrals for certain entities. The proposal, which is expected to be published in August, would delay new accounting rules for 1) leases, 2) credit losses on loans, 3) long-term insurance contracts, and 4) hedge accounting.
