McGladrey & Pullen, LLP, is a leading national CPA firm focused on meeting the audit and accounting needs of mid-sized companies.

McGladrey & Pullen Issues Guidance Regarding the Accounting for Subsequent Events
McGladrey & Pullen’s National Professional Standards Group has issued a white paper, Subsequent Events: New Standards Apply, which discusses various aspects of the accounting for subsequent events under ASC Topic 855 as amended.

SEC supports global accounting standards
The SEC has issued an update regarding its consideration of global accounting standards, and the implications of convergence with respect to the SEC’s ongoing consideration of incorporating International Financial Reporting Standards into the financial reporting system for U.S. issuers.

Amendments to certain subsequent events recognition and disclosure requirements
The FASB recently issued Accounting Standards Update 2010-09, Subsequent Events (Topic 855) – Amendments to Certain Recognition and Disclosure Requirements.