All Financial Accounting Standards Board articles – Page 5
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ArticleSoftware problems exacerbate lease compliance
Nearing the end of their second quarter observing new lease accounting rules, many public company accounting departments are still cursing their software.
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Article
FASB clarifies financial instruments rules, including CECL
FASB issued an update to accounting standards to clarify new rules on CECL, hedging, and recognition and measurement of financial instruments.
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ArticleAICPA revenue recognition guide hits audit, sector issues
Still looking for some help on revenue recognition? The AICPA has published an audit and accounting guide meant to work through industry-specific issues.
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ArticleFASB preps proposal to simplify income tax accounting
FASB is preparing a proposal to amend accounting standards in a way that is intended to ease the accounting for income taxes.
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ArticleRoughly half of S&P 500 disclose expected CECL impact
A little more than half of the S&P 500 have disclosed something about how they expect to be affected by CECL reporting when it begins next year.
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ArticleFASB rejects bank request to ease CECL effects on income
The Financial Accounting Standards Board has rejected a proposal by some banks to revise the pending credit losses standard, due to take effect Jan. 1, 2020.
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ArticleFASB revises proposed changes to income tax disclosure
FASB has revised its proposed changes on tax disclosures to respond to feedback to an earlier proposal and to reflect changes under tax reform.
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ArticleMind controls, disclosures on leases, Big Four firms advise
As companies face first-quarter reporting under lease accounting, Big Four firms are offering some last-minute pointers about controls and disclosures.
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ArticleBanks move forward with CECL, expecting no relief
Despite calls for delay or reconsideration of the pending new model for recognizing loan losses, entities are implementing as if nothing will change.
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Article
Companies tie loose ends on leasing, prepare ongoing accounting
Companies generally are expected to be ready to report under new lease accounting rules but still face some added work to prepare for ongoing compliance.
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BlogFASB finalizes minor edits to major new lease rules
As companies are about to begin reflecting new lease rules, the Financial Accounting Standards Board has approved some minor edits to the standard that are intended to assure a smooth transition.
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ArticleCompanies face first reporting under new hedge rules
Hedge accounting rules, now taking effect, may have fallen under the radar as companies wrestled bigger changes to revenue recognition, leasing, and credit losses.
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BlogMolson Coors recalls bad batch of earnings figures
After discovering a bad batch of accounting, Molson Coors Brewing Co. has restated financials back to 2016 to unravel improperly reported earnings.
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Blog
FASB preps CECL edit to allow more fair value
To make it easier for companies to adopt CECL for credit losses, FASB is considering a change that would permit more use of fair value.
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Blog
FASB tees up CECL issues, but not deferral
The FASB will meet to discern implementation issues associated with CECL, but the possibility of a deferral in the effective date is not on the agenda.
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Blog
FASB considers how to answer CECL proposal
The FASB is reviewing a request from a group of mid-sized financial institutions to revise CECL in a way the board has apparently already considered and dismissed.
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Blog
FASB hears CECL concerns, plans March meeting date
Making no promises about what action, if any, it will take, FASB will meet in March to discuss the CECL standard on credit losses.
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ArticleLIBOR death knell tolls compliance, accounting issues
The slow death of a critical benchmark interest rate will produce a series of compliance headaches for companies stretching over the next few years.
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Blog
FASB issues Q&A on CECL method, sets roundtable date
To answer CECL implementation questions, FASB issued a Q&A focusing on the weight average remaining maturity, or WARM, method some entities are exploring.
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Article
CECL queues up as next big accounting change in 2019
The long-awaited new accounting for credit losses, better known as CECL, is moving forward in 2019 unless someone takes definitive action to delay or alter it.