All FASB articles – Page 4
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ArticleFASB finalizes simplification of income tax standard
The Financial Accounting Standards Board has issued an Accounting Standards Update to finalize changes to income tax accounting meant to simplify the process.
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ArticleLiabilities and equity, LIBOR among priorities for FASB’s Golden
In a speech Tuesday, FASB Chairman Russell Golden laid out the accounting areas he hopes to finalize changes to before his term ends June 30, 2020.
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ArticleGoodwill impairments more than doubled in 2018, says recent study
Goodwill impairment recorded by U.S. public companies is on the rise. According to Duff & Phelps’ 2019 U.S. Goodwill Impairment study, it climbed 125 percent in 2018.
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ArticleFASB finalizes tweaks to CECL standard
The Financial Accounting Standards Board has issued an update to the upcoming standard on credit losses that addresses negative allowances and expected recoveries.
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ArticleWhat FASB’s recent updates might mean for you
The Financial Accounting Standards Board has issued updates to its standards on hedging and share-based payments and is offering guidance on reference rate reform.
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ArticleFASB finalizes standard delays, including CECL
The Financial Accounting Standards Board has finalized long anticipated delays in effective dates for several accounting standards, including the controversial rule on credit losses.
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FASB task force adds new member
The Financial Accounting Standards Board announced the appointment of Aleks Zabreyko to the Emerging Issues Task Force (EITF), effective immediately.
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ArticleBig Four to FASB: Guidance needed on supplier financing arrangements
The Big Four accounting firms are asking FASB to provide guidance regarding the financial statement disclosures that should be provided by companies that have entered supplier finance programs involving their trade payables.
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ArticleFASB announces upcoming CECL implementation workshops
FASB has announced upcoming workshops designed to help community banks and credit unions of all sizes implement the standard on current expected credit losses.
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ArticleFASB votes to approve standard delays, including CECL
FASB has voted to approve a previously proposed delay to its upcoming rule change for credit losses, in addition to standards for hedging and leasing.
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ArticleUpcoming regulatory events: SEC, DOJ, FASB, and more
Fall is a busy time for regulators across the compliance landscape. Take note of upcoming events, plus some early conference registration news.
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ArticleProposed bill targets FASB rulemaking procedures
Rep. Blaine Luetkemeyer (R-Mo.) on Friday introduced a bill that would subject the Financial Accounting Standards Board to the rulemaking guidelines of federal financial regulators.
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ArticleBanks finalize CECL prep, but others have work to do
Big banks are making progress in preparing for CECL, but non-bank operating companies are likely to face a heavier lift as they approach the fourth quarter.
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ArticleLIBOR report suggests steep uphill climb still ahead
Despite warnings to prepare, financial institutions still face a lot of work and uncertainty around the demise of LIBOR, a new assessment suggests.
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ArticleLease rule implementation still a slog, poll says
Halfway through the first year reporting under new lease accounting rules, only one-fourth of public companies said their implementations were complete, according to a recent Deloitte poll.
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ArticleAuditors develop practice aid to compare notes on CECL
Auditors are comparing notes on how they will interact with audit committees regarding CECL, developing a practice aid that might also interest preparers.
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ArticleInvestors want more from banks on CECL, says FASB member
Investors want more information from leading banks over how financial statements will be affected by the adoption of the new CECL approach to credit losses.
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ArticleFASB offers changes to ease reference rate transition
FASB is proposing guidance intended to ease the potential accounting burden companies expect to face as they navigate reference rate reform.
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ArticleGE whistleblower report shines light on insurance liability
Recent whistleblower allegations against GE have put a spotlight on mounting liabilities that will hit corporate balance sheets when insurance accounting rules shift.
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ArticleFASB plans delay for new insurance standard
FASB is proposing another accounting delay, this time for a standard that will change the way companies recognize long-term insurance obligations.