All FASB articles – Page 13
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Blog
FASB finalizes change, proposes another to compensation rules
The FASB is making inroads on more accounting change around compensation with a new standard for retirement benefits and a new proposal around stock compensation.
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Article
Early work on new lease rules reveals big effort ahead
Waiting in line behind revenue recognition, new requirements to bring leases on to corporate balance sheets are starting to win pockets of attention.
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Blog
Lease survey suggests companies are moving toward adoption
A software company’s recent survey suggests two-thirds of companies are on schedule in adopting new lease accounting requirements, but even the firm’s CEO is wary.
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Blog
FASB appoints new members to Emerging Issues Task Force
FASB has announced the appointment of Kimber Bascom, partner-in-charge of the Accounting Standards Group of KPMG’s Department of Professional Practice, and Lawrence Dodyk, an assurance partner in PwC’s National Professional Services Group, to the Emerging Issues Task Force.
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Blog
SEC proposes requiring inline XBRL, provides IFRS taxonomy
The SEC has taken steps to advance the use and accuracy of digital financial statement data, proposing required use of inline XBRL and providing IFRS taxonomy.
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Blog
AICPA issues five new revenue recognition drafts
In the steady march to new accounting for revenue recognition, the AICPA has five more new industry-specific implementation drafts for companies to consider.
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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.
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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.
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Blog
Going concern audit rules updated for private, not public, companies
Private company audits soon will reflect new standards around the going concern call, but public companies will be getting their new standards no time soon. Tammy Whitehouse reports.
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Blog
FASB issues yet another revenue recognition clarification
Down deep in the weeds of the implementation of new revenue recognition accounting, companies have a new clarification to consider from FASB, writes Tammy Whitehouse.
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Blog
FASB to host roundtables on defining materiality in GAAP
FASB is hosting roundtable meetings in March to discuss defining materiality in accounting standards, a can of worms it opened in 2015 in connection to disclosures.
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Article
Auditors prepare to inspect revenue recognition adoption
Public companies beware: Auditors plans to scrutinize the impending switch to new revenue recognition accounting. Tammy Whitehouse reports.
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Blog
Trump's 2-for-1 regulatory rollback won't touch SEC, FASB, PCAOB
President Trump’s 2-for-1 executive order meant to curtail federal regulation apparently will not apply directly to the SEC, FASB, or PCAOB. Tammy Whitehouse reports.
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Blog
Raytheon adopts new revenue rule under GAAP on Jan. 1
Raytheon takes the lead among public companies in disclosing it has adopted the new revenue recognition accounting standard under U.S. GAAP as of Jan. 1. More from Tammy Whitehouse.
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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.
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Blog
Oracle and PwC team up to offer IFRS 9 compliance expertise
Oracle Financial Services Analytical Applications and PwC have announced a global collaboration to offer technology, implementation, and consulting solutions to help financial institutions meet near-term and ongoing compliance with the International Accounting Standards Board’s new IFRS9 and FASB’s proposed CECL reporting standards.
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Blog
Groups unveil valuation credential to aid financial reporting
With a new professional credential, the valuation profession is raising the bar on how intangible assets should be valued and documented. More from Tammy Whitehouse.
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Blog
Bank regulators back scaling of CECL model for smaller banks
Bank regulators issued a year-end Q&A on new credit loss rules to assure examiners and institutions understand that scaled modeling of loan loss allowances is permitted. Tammy Whitehouse explores.
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Blog
Flap over non-GAAP gets standard setters' attention
The disturbing rise of non-GAAP reporting in 2016 has prompted standard setters to take a closer look at whether changes to current rules are in order. Tammy Whitehouse explores.
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Article
Technical side of revenue recognition still vexes companies
The more complex the transaction, the more difficult it gets to apply new revenue recognition rules. Eventually, something’s got to give, writes Tammy Whitehouse.