Companies that sell products such as life insurance, disability income insurance, long-term-care insurance and annuities will change their accounting under new rules issued by FASB.
Amendments proposed by FASB are intended to make implementation of the new lease accounting standard easier and less costly for lessors.
The AICPA’s Financial Reporting Executive Committee (FinREC) has issued working drafts of accounting issues related to implementation of FASB’s new standard for accounting for credit losses.
Under new rules proposed by GASB, state and local governments would use a single method to report conduit debt obligations and related obligations.
Draft strategic plan focuses on commission's need to react to new investing technologies.
The change aligns accounting of transactions for employees and nonemployees.
FASB has issued targeted changes to its new lease accounting standard that are designed to make implementation easier and reduce costs for financial statement preparers.
FASB clarified rules and corrected application of guidance for its lease accounting standard.
The SEC raised a disclosure threshold and sought public comment on other ways to modernize its rules for employee stock compensation.
FASB made clarifying changes and corrected unintended application of guidance in a standard that updates its Accounting Standards Codification.
Two FASB staff memos issued last month provide insight to private company financial statement preparers on how to overcome implementation challenges that some have encountered with the new revenue recognition standard.
Here are five tips that can help not-for-profits prevent some financial statement errors mistakes.
No significant effects on current practices are expected.
Gaming and telecommunications are up for discussion.
Questions arose with the new revenue recognition standard.
A guide under development will assist with estimates.
The SEC voted to change the definition of “smaller reporting company” in an effort to expand the number of companies that qualify for scaled disclosure accommodations.
The U.S. Securities and Exchange Commission voted to adopt and propose several new rules, including changes to the SEC’s whistleblower program and a requirement to use Inline XBRL in certain filings.
The proposal attempts to reduce diversity in practice on the accounting for complex instruments that have features of debt and equity.
The proposal would realign the definitions of “collections” used in GAAP and the American Alliance of Museums’ Code of Ethics for Museums.