Effective dates for certain entities for key standards on accounting for leases, credit losses, hedging, and long-duration insurance contracts would change under a proposal FASB voted to direct its staff to draft.
U.S. compliance and reporting
FASB vice chairman Jim Kroeker shares advice for successful implementation of accounting standards, as well as what’s on the horizon for FASB.
FASB issued an Invitation to Comment on whether the board should make changes to the accounting for certain identifiable intangible assets acquired in a business combination and subsequent accounting for goodwill.
As they implement FASB’s new lease accounting rules, private companies and not-for-profits may be surprised by the complexity of the transition and the effects on the financial statements.
A Technical Question and Answer issued by the AICPA discusses the characteristics of expenses that would be considered “direct care of existing collections” under a new FASB standard that updates the definition of “collections.”
The changes would remove various exceptions to general principles.
High-profile standards were completed during the CEO's tenure.
FASB proposed changes that are designed to address issues that have arisen for stakeholders implementing the board’s new standard for accounting for credit losses.
Private companies are entering the final stretch of their preparations to comply with FASB’s new revenue recognition standard. Here’s how auditors can help their clients with the implementation process.
Not-for-profits have their own specific concerns related to the Financial Accounting Standards Board’s new revenue recognition standard. Find out in this episode how the new standard applies to not-for-profits.
FASB’s new current expected credit losses standard contains big implementation challenges for the financial services industry but also applies to companies in other industries.
New rules issued by the FASB align its definition of “collections” with that used by the American Alliance of Museums’ Code of Ethics for Museums.
The new FASB standard allows not-for-profits to use alternatives on accounting for goodwill and accounting for identifiable intangible assets in a business combination.
FASB issued new accounting rules that are designed to ease the transition to the board’s new credit losses standard by providing an option to measure certain types of assets at fair value.
FASB issued a proposal that is intended to make accounting for income taxes less costly and complex.
FASB’s new standard for recording credit losses presents a huge change to accounting for financial institutions, and affects other organizations as well. A new tool helps audit committees in their oversight of this important implementation.
A new Technical Question and Answer issued by the AICPA discusses the characteristics of expenses that would be considered “direct care of existing collections” under a new FASB standard that updates the definition of “collections.”
The change is intended to reduce confusion after a 2018 update.
The change is a response to the popularity of online streaming services.
The proposal addresses contract liabilities.