All Financial Instruments articles – Page 2
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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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IOSCO joins call for disclosure on new accounting standards
International regulators, like SEC in the United States, are calling on companies to give plenty of disclosure about transition to new accounting standards.
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FASB plans pause before digging into big new rules
After issuing some huge changes to accounting standards, FASB will keep the current work load or corporate accounting offices in mind before taking on big new projects.
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SEC renews calls for revenue disclosures at year-end
Staff members at the SEC continue to beat the drum for disclosure about revenue recognition adoption, even where companies don’t have hard numbers. Tammy Whitehouse has more.
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FASB proposes amortization change on some debt securities
FASB is proposing to change the accounting for callable debt securities, altering amortization provisions for those purchased at a premium. Tammy Whitehouse has more.
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FASB proposes new approach to hedge accounting
After finishing rules on the recognition and measurement of financial instruments and on loan losses, FASB is turning its attention back to hedge accounting with a new proposal. Tammy Whitehouse reports.
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FASB finalizes new rule to accelerate recognition of loan losses
FASB has finalized its long-awaited standard giving companies a new, more forward-looking way to account for credit losses in their portfolios. The standard will require companies to reflect expected credit losses on financial assets based on their historical experience, current market conditions, and even forecasts. Tammy Whitehouse has an in-depth ...
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FASB appoints transition group for pending credit loss standard
Image: FASB has seated a Transition Resource Group to help implement the pending standard on credit losses that will include 16 bigwigs from accounting firms PwC, KPMG, EY, Deloitte, Grant Thornton, and Crowe Horwath, as well as banking and insurance entities. The group, which will be chaired by FASB member ...
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FASB Takes Heat on Impairment Proposal
Image: FASB is facing some fresh political pressure from Congress, this time to answer the outcry of smaller financial institutions objecting to the planned change to financial instrument impairment rules. According to FASB Chairman Russ Golden, a recent open meeting on the topic of impairment produced “insightful discussion that resulted ...
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Article
New Accounting Standard Provides a Host of Potential Changes for Financial Reporting
Accounting Standards Update No. 2016-01 is here, and its impact on how to classify and measure financial instruments will mean different things to different companies, especially when it comes to setting valuation. But with a lack of universal impact, this update will require everyone to take a look at their ...
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FASB Publishes Final Standard on Recognition and Measurement of Financial Instruments
Image: A decade in the making, public companies now have a new standard that tells them how to measure and recognize the value of financial assets and financial liabilities in financial statements. Accounting Standards Update No. 2016-01 rewrites certain requirements under the Accounting Standards Codification for how to recognize, measure, ...
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Auditing World Braces: More ICFR Attention, Big Rule Changes
Image: Expecting a letup in the scrutiny of internal controls? Forget it: 2016 promises to be another intensive year for ICFR as all sides sharpen their understanding of the subject. “Internal control over financial reporting will remain on everyone’s radar,” says Cindy Fornelli, head of the Center for Audit Quality. ...
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FASB Seats Transition Group for Impairment, Not Leases
Image: Building on the success of the revenue recognition transition group, FASB is planning a new group to facilitate implementation of the pending financial instrument impairment standard. In recent remarks, FASB Chairman Russ Golden said the TRG has already met to identify any key issues. The board is putting the ...
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FASB Sets Dates for Financial Instruments Standards
In addition to finalizing and setting a 2019 effective date for a new standard on leasing accounting, FASB has wrapped up its long-running work on changes to the way companies will classify and measure financial instruments and has directed its staff to prepare the final language of the Accounting Standards ...
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FASB Wants Comment on Financial Instruments
Image: FASB wants public comment on one final aspect of its standard for financial instrument classification and measurement, focused on how entities should disclose hybrid financial instruments containing embedded derivatives that are separately recognized. FASB plans to get a proposal out soon so the comment period can be wrapped up ...
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Recognize the Big Standards’ Changes
The auditing and financial reporting world will spend lots of 2015 preparing for the new revenue recognition standard going into effect by 2017—but from leasing to going concern warnings to IFRS adoption in the United States, plenty of other major changes may arrive as well. “Folks have come to see ...
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Debt Modification May Lead to Hedge Accounting Questions
Dec. 29—A friendly reminder from the SEC and auditing experts: If your company plans to issue or modify debt now, before the Fed raises interest rates sometime in 2015, check your debt agreements carefully to see whether you have any embedded derivatives language in there—since that could trigger new disclosures ...
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ArticleIASB Issues New Rules on Financial Instruments; FASB Readies Different Approach
Companies following international accounting rules have a new standard on how to account for financial instruments, and it differs in a number of important ways from the standard that is expected to emerge in the United States by the end of the year. The International Accounting Standards Board finalized its ...
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