FASB alters accounting for episodic TV series
The change is a response to the popularity of online streaming services.
Financial reporting
FASB addresses deferred revenue in business combinations
The proposal addresses contract liabilities.
FASAB proposes eliminating RSSI, updating lease references
References to leases in three statements would change.
Polley steps down as head of FAF
After leading the Financial Accounting Foundation (FAF) for 11 years, Terri Polley announced that she is stepping down.
FASB makes minor adjustments to financial instruments rules
Stakeholders have voiced concerns to FASB about various aspects of the board’s recently issued standards for credit losses, hedging, and recognition and measurement.
Lease accounting tips for public and private companies
Public companies are finding that even though they have implemented FASB’s new lease accounting standard, their work is not nearly done. Private companies, meanwhile, are struggling with their own adoption of the standard.
Lease accounting: A private company perspective
Private companies implementing new lease accounting rules can expect a complex transition and a substantial financial statement impact.
FASB modifies definition of ‘collections’
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.
FASB alters accounting for episodic TV series
FASB issued a standard that converges the accounting guidance for production costs for episodic TV series with the rules for production costs for films.
New FASB standard clarifies lease accounting issues
FASB addressed two lessor implementation issues and clarified an exemption for lessors and lessees from a certain interim disclosure requirement associated with adopting the board’s new lease accounting standard.
FASB proposes guidance for measuring share-based payments to customers
A proposal issued by the Financial Accounting Standards Board would spell out how to measure share-based payments to a customer.
FASAB proposes eliminating RSSI, updating lease references
FASAB has proposed eliminating the required supplementary stewardship information (RSSI) category and updating references to leases in multiple places in its accounting standards for federal government entities.
Private company GAAP alternatives: It’s not too late
The elimination of the effective date for FASB’s private company GAAP alternatives means it’s never too late to take advantage of these accounting simplifications. Each alternative may offer substantial relief and cost savings for private companies as they perform their accounting.
FASB proposes extending 2 GAAP alternatives to not-for-profits
Private company exceptions may see wider use.
Mastering accounting for business combinations
Finance has a pivotal role to play in facilitating a successful acquisition or merger — and in performing the challenging accounting associated with a business combination.
FASB works to ease lessor accounting challenges
Tweaks and updates addressed implementation challenges.
GASB issues proposed lease accounting implementation guide
GASB issued a proposed implementation guide that is designed to help state and local governments understand the board’s new standard on lease accounting.
FASB addresses deferred revenue in business combinations
FASB took a step forward in resolving challenges in its rules for recognizing and measuring deferred revenue in business combinations.
Finding value in revenue recognition implementation
The challenges associated with FASB’s new revenue recognition standard have been substantial for many companies, but at least they’re gaining valuable data and process improvements as a result of the implementation.
FASB proposes transition relief for credit losses standard
FASB proposed providing an option to measure certain types of assets at fair value, a change aimed at making the transition to its new credit losses standard easier.
