All Implementation articles
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Article
FASB proposes small changes to CECL standard
FASB has issued a proposed revision to the CECL standard to address a handful of implementation questions as companies prepare for the new accounting.
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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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Blog
FASB 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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Article
Companies 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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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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Article
Earliest revenue restatements fix adoption problems
While most public companies have yet to complete a full year of reporting under new revenue recognition rules, some are already finding reasons to restate.
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Blog
Companies adjust revenue disclosures, grapple costs
Companies are changing their revenue recognition approach as they move from quarter to quarter, and they’re tallying higher-than-expected costs, poll says
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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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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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Blog
Comment letters show SEC forced restatement on ASC 606
After a 15-part comment letter exchange with the SEC over its compliance with new revenue recognition rules, Kingsway Financial Services opted to restate.
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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.
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Blog
FASB chair dismisses any delay of lease rules
Amid technology challenges and minor changes to the pending new lease accounting rules, FASB is standing firm on the Jan. 1 effective date.
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Blog
CAMs may drive more management disclosure, dry runs reveal
A pending requirement for auditors to disclose critical audit matters in their reports may compel management to take a closer look at their own disclosures.
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Blog
Lease accounting adoption taps corporate resources
The year-end push to adopt new lease accounting is taking more time and more money than companies expected, according to a new poll by EY.
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Blog
FASB proposes updates to financial instrument rules
FASB has issued a proposal to amend rules on three major standards on financial instruments to address clarity and implementation issues.
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Blog
FEI group provides guides on leases, CECL controls
FEI’s corporate reporting group has developed its own guides for preparers on how to assure sound controls with major new accounting adoptions.
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Blog
SEC staff plans to scrutinize year-end revenue disclosures
As companies get closer to their first annual disclosures under new revenue recognition rules, staff members at the SEC are stocking up on red pens.
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Blog
Lease accounting adoption still behind, PwC poll says
More than 15 percent of public companies surveyed in late October had not yet begun implementing the new lease accounting standard that takes effect Jan. 1.