All Simplification articles
-
Blog
FASB simplifies income tax accounting for asset transfers
FASB has issued another simplification to accounting rules, this time targeting income taxes. The rule focuses on asset transfers within related entities. Tammy Whitehouse has more.
-
Blog
FASB drops simplification idea around equity method
FASB’s proposal on simplifying equity accounting garnered 40 comment letters, nearly half from preparers. But while most expressed support for dropping the retroactive adoption requirement, responses to accounting for the basis difference were all over the map. Tammy Whitehouse reports.
-
Blog
FASB Simplifies Business Combinations Accounting
FASB has approved a change that simplifies accounting for business combinations, so companies will no longer be required to make retrospective adjustments to historical data as if the facts of the acquired unit had been known from the date of the acquisition. Instead, the acquiring company will recognize adjustments to ...
-
Blog
FASB Adopts Fixes to Employee Benefit Accounting
FASB has finalized its accounting standards update with a three-part fix to simplify accounting for employee benefit plans. The first part allows companies to measure the value of fully benefit-responsive investment contracts at the contract value rather than fair value; part two cuts disclosure requirements for certain individual investments; and ...
-
Blog
FASB Proposes Simplification to M&A Accounting
The Financial Accounting Standards Board is proposing a change to the rules around how to adjust provisional amounts recorded at the time of a transaction to simplify the accounting for business combinations. FASB says stakeholders say current rules are costly and complicated and don’t significantly improve the information available to ...
-
Blog
FASB Issues New Rules, Proposals on Narrow Areas of GAAP
The Financial Accounting Standards Board has been busy the past few weeks pushing out some narrowly focused changes to accounting standards that address earnings per share, fair value measurement, intangible assets, and compensation, not to mention additional proposals involving liabilities associated with gift cards, hedging for energy concerns, and benefit ...
-
Blog
FASB Simplifies Presentation of Debt Issuance Costs
FASB has approved a measure to revise the presentation of debt issuance costs. Financial statement preparers told the board that existing rules establishing different balance sheet presentation requirements were unnecessarily complicated. FASB now says companies should treat debt issuance costs as they do debt discounts in the balance sheet, deducting ...
-
Blog
FASB Proposes Simplifications to Income Tax Accounting
The Financial Accounting Standards Board has issued two proposed accounting standard updates to simplify the accounting for income taxes. One would simplify accounting for the tax effects of intra-entity asset transfers, while the other focuses on the classification of deferred tax assets and liabilities that are carried on the balance ...