Impairment of financial instruments on FASB meeting agenda

BY KEN TYSIAC

FASB will continue its discussion of impairment of financial instruments during its board meeting on Aug. 22.

A decision by FASB last month to address a number of topics and constituent concerns in the joint project with the International Accounting Standards Board (IASB) was met with frustration by IASB Chairman Hans Hoogervorst, who is eager to move forward with the project.

The IASB does not meet this month, and FASB Chairman Leslie Seidman has said FASB’s staff will work expeditiously on the project.

FASB’s meeting, as well as educational sessions on accounting for instruments—classification and measurement; insurance; consolidation policy and procedure; and investment companies will be available by webcast on the board’s site.

Ken Tysiac ( ktysiac@aicpa.org ) is a JofA senior editor.

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

QUIZ

News quiz: Scam email plagues tax professionals—again

Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.