All FASB articles – Page 3
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ArticleFASB finalizes leases, rev rec delays prompted by coronavirus
The Financial Accounting Standards Board finalized effective date delays of one year to standards affecting revenue recognition and leases in response to the coronavirus pandemic.
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ArticleFASB Q&A tackles coronavirus effect on hedge accounting
FASB staff issued a question-and-answer document to address uncertainty about the effects of the coronavirus pandemic on cash flow hedge accounting under Accounting Standards Codification Topic 815.
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ArticleFASB Q&A addresses lease concessions related to coronavirus
FASB staff has issued interpretative guidance in the form of a question-and-answer document addressing accounting for lease concessions related to economic effects of the coronavirus pandemic.
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ArticleFASB votes to approve leases, rev rec delays amid coronavirus response
The Financial Accounting Standards Board ruled unanimously on tentative effective date delays to standards affecting revenue recognition and leases in response to the ongoing coronavirus pandemic.
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ArticleFASB to address coronavirus impact at April meeting
The Financial Accounting Standards Board announced its intent to meet April 8 and address standard-setting issues related to the ongoing coronavirus pandemic.
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ArticleHow to account for coronavirus impact during CECL implementation
The challenge facing companies that choose to report CECL in the first quarter despite reporting relief announced Friday is how to reasonably reflect the potential effects of the coronavirus in estimates of current expected credit losses.
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ArticleCECL delayed amid U.S. government’s coronavirus response
FASB’s controversial standard on credit losses was dealt two significant blows Friday as the U.S. government scrambles to respond to the financial impact of the escalating coronavirus pandemic.
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ArticleCoronavirus pandemic elicits opposing views on CECL, TDRs
Two regulatory chairs are battling over whether a delay is needed for financial institutions to implement the updated credit loss standard; also expressed are opposing views on how loan modifications should be viewed in terms of troubled debt restructurings.
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ArticleNew FASB guidance eases transition from LIBOR
FASB has issued a temporary standards update intended to reduce the costs and complexities surrounding reference rate reform.
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ArticleFASB issues improvements to financial instruments guidance, including CECL
FASB has issued an accounting standards update amending several financial instruments topics in order to provide more clarity and improve on such standards as current expected credit losses.
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ArticleFASB agenda on hold amid chair transition
Outgoing FASB Chair Russell Golden said at a Financial Accounting Foundation meeting this week the rulemaker will look to get his successor, Richard Jones, settle before determining its second-quarter agenda.
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ArticleRegulatory events coming this spring
Check out information on upcoming events from such regulators as the SEC, FINRA, CFPB, and more.
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ArticleFASB Chairman Golden’s agenda setting 101
Have you ever wondered how FASB decides what issues to include in its technical agenda? Chairman Russell Golden explained recently the process for identifying the right accounting issues to address.
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ArticleFASB Q&A tackles revenue recognition implementation
Determining transaction price and identifying performance obligations are among the most challenging implementation issues in accounting for revenue recognition, according to recent guidance from FASB.
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ArticleBenefits of sustainability reporting: takeaways for accounting
A former FASB member and current board member at the Sustainability Accounting Standards Board offers tips to accountants facing a heightened investor interest in sustainability.
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ArticleFASB issues first ASU of 2020
FASB has issued the first accounting standard update of the new year, clarifying the interaction between accounting standards related to equity securities, equity method investments, and certain derivatives.
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ArticleTip sheet: 2020 priorities for accounting and audit regulators
With the new year under way, we highlight some focus areas of accounting and audit regulators—SEC, PCAOB, and FASB—that should be top of mind for boards of directors.
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ArticleHot topics for 2019 year-end audits
As auditors get ready for year-end audits, internal controls and new accounting standards are on their radar.
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ArticleFASB cloud computing cost standard to soon take effect
An updated cloud computing standard from the Financial Accounting Standards Board will clarify expenses associated with Web hosting arrangements for cloud computing.
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ArticleEY chief accountant to succeed Golden as FASB chair
The Financial Accounting Standards Board announced the appointment of EY Chief Accountant Richard Jones to succeed Russell Golden as chair, effective July 1, 2020.