All Accounting Standards Update articles – Page 4

  • Blog

    FASB shortens write-down period for some debt securities


    The Financial Accounting Standards Board has settled on a new way for companies to amortize, or write down the value, of certain debt securities.

  • Blog

    FASB updates accounting for certain benefit plans


    Companies with employee benefit plans held in master trusts have some new accounting rules to learn and observe, courtesy of the Financial Accounting Standards Board.

  • Article

    Is it a business or an asset? Companies get new guidance


    Companies will have some new analysis to do to assure their accounting for business transactions reflects a new definition of “business” in GAAP. Tammy Whitehouse has more.

  • Blog

    FASB kills burdensome goodwill impairment test


    FASB has finalized its action to eliminate “step two” from goodwill impairment testing, relieving public companies of the costly, complex fair-value exercise. More from Tammy Whitehouse.

  • Blog

    FASB issues new restricted cash rule, proposal on stock comp


    FASB has published a new rule to combat diversity in restricted cash accounting and a new proposal to clarify the rules around stock compensation modifications.

  • Blog

    FASB’s new consolidation guidance lays off indirect interests


    FASB’s new consolidation guidance is meant to help companies better determine whether a particular entity should be consolidated to financial statements. More from Tammy Whitehouse.

  • Blog

    Bankers expect big accounting change under CECL model


    Bankers expect CECL, a new rule on how to reflect credit losses in financial statements, to produce big accounting changes. According to Tammy Whitehouse, some say it is the biggest change ever.

  • Blog

    FASB pushes change to accounting for long-duration insurance


    FASB has proposed a big change in accounting for insurance companies that deal in long-duration contracts like life insurance, annuities, disability, and long-term care. Tammy Whitehouse reports.

  • Blog

    FASB offers more narrow corrections to new revenue rule


    FASB has issued another proposed update to the massive new standard on revenue recognition to address more technical corrections and upgrades on a handful of narrow issues. Tammy Whitehouse has more.

  • Blog

    Companies get new rules to govern cash flow classification


    FASB has approved a new Accounting Standards Update meant to clear up inconsistencies in how companies classify cash payments and receipts on the cash flow statement. Tammy Whitehouse has more.

  • Blog

    FASB Finalizes Simpler Way to Measure Some Inventory


    The Financial Accounting Standards Board has finished its simplification of the accounting requirements around measuring inventory, although the simplification is not as broad-based as first intended. The update says when performing subsequent measurements of inventory under either the first-in, first-out, or the average costs methods, companies should measure inventory at ...

  • Blog

    FASB Proposes Simplifications to Income Tax Accounting


    The Financial Accounting Standards Board has issued two proposed accounting standard updates to simplify the accounting for income taxes. One would simplify accounting for the tax effects of intra-entity asset transfers, while the other focuses on the classification of deferred tax assets and liabilities that are carried on the balance ...

  • Blog

    FASB Jettisons Extraordinary Items From Financial Statements


    In its quest to simplify accounting standards, the Financial Accounting Standards Board has adopted a new provision in Generally Accepted Accounting Principles that spares companies the requirement to display extraordinary and unusual items in financial statements. FASB said stakeholders had expressed concerns that companies often faced uncertainty over when to ...

  • Blog

    Public Companies Could Win Same Exception Given to Privates on Intangible Assets


    FASB is taking a fresh look at a method to account for intangible assets it just permitted for private companies, to see whether the rule should be granted to public companies as well. The new method allows private companies to bypass the current GAAP requirement to recognize separately from goodwill ...