FASB proposed a standard that is intended to drive consistency in accounting for revenue contracts with customers acquired in a business combination.
Accounting & reporting
After celebrating its 30th anniversary, the Federal Accounting Standards Advisory Board is continuing to move forward in its mission to deliver transparency in federal accounting, says board Chair George Scott, CPA, CGMA.
FASB will undergo a comprehensive project starting this month to determine its future standard-setting priorities, FASB Chair Richard Jones said at the AICPA Conference on Current SEC and PCAOB Developments.
The coronavirus pandemic has led to changes in operations that require increased attention to internal controls, Securities and Exchange Commission staff said at the AICPA Conference on Current SEC and PCAOB Developments.
As an entity moves through the bankruptcy process, it must meet certain criteria to qualify, upon emergence, for fresh-start reporting under FASB ASC Topic 852, Reorganizations.
FASB Chair Richard Jones, CPA, and GASB Chair Joel Black, CPA, describe their visions and priorities in this Q&A.
The SEC has voted to adopt amendments that are intended to modernize, simplify and enhance management’s discussion and analysis and other required financial disclosures.
FASB added a project to its technical agenda that would give certain private companies and not-for-profits the option to perform goodwill triggering event evaluation only on the annual reporting date.
The Securities and Exchange Commission voted to permit the use of electronic signatures in authentication documents and to facilitate electronic service and filing in the commission’s administrative proceedings.
The Governmental Accounting Standards Board proposed Q&A guidance on the implementation of its standards for state and local governments.
The Federal Accounting Standards Advisory Board and the Accounting and Auditing Policy Committee issued a joint exposure draft related to lease accounting for federal entities.
FASB issued a standard that provides a delayed effective date to its long-duration insurance standard for companies adversely affected by the pandemic. The standard also eases requirements for early adopters.
Guidance exists on numerous specific financial reporting issues related to lease concessions, various forms of government assistance, and loan restructurings. Here’s how you can find it.
FASB published a new standard that describes a series of incremental changes to accounting rules that are designed to improve its codification.
A proposal issued by the Federal Accounting Standards Advisory Board would clarify how an advance should be presented in component entity financial statements.
Accounting relief from reference rate reform would be extended to a modification known as the “discounting transition” under a proposal issued by the Financial Accounting Standards Board.
FASB staff issued a paper that educates borrowers on accounting for debt modifications and restructurings, which have surged as a result of the coronavirus pandemic.
FASB would clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified forwards and options under a proposal issued Monday.
FASB proposed three targeted changes to its lease accounting guidance. The proposal is a response to feedback the board received during its post-implementation process for the lease accounting standard.
With state and local governments facing serious pandemic-related concerns, the Governmental Accounting Standards Board is providing relief and resources while also working on its “big three” high-impact projects for the future. GASB Chairman Joel Black explains in this Q&A.