Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Big Four Call for Reporting Guidance on Supply Chain Financing

Oct. 8, 2019, 9:14 PM

The Big Four accounting firms want U.S. accounting rulemakers to force transparency around how businesses use an increasingly popular supply chain financing tool.

In a rare joint letter, KMPG LLP, Deloitte & Touche LLP, Ernst & Young LLP, and PwC LLP called on the Financial Accounting Standards Board to weigh in on the types of information companies should disclose about financing tools called reverse factoring and how they should be presented in their statements of cash flows.

With “proper disclosure and explicit statement of cash flow classification guidance, users of the financial statements will have a better ...