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.
Financial reporting
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.
FASB proposes narrow-scope financial instruments accounting changes
No significant effects on accounting practice are expected.
FASB alters transition requirements, scope of credit losses standard
FASB amended its standard on accounting for credit losses, changing the transition requirements and clarifying the scope of the standard.
Simplifying adoption of NFP financial reporting standard
Tax-exempt organizations are working through the biggest change to not-for-profit financial reporting in 25 years. Smaller organizations with limited resources can smoothly implement FASB’s new rules by following some best practices.
FinREC proposes guidance on inventory valuation
Comments are sought on nonauthoritative guidance.
AICPA publishes broker-dealer working draft
The AICPA Financial Reporting Executive Committee has published a working draft of an illustrative note to financial statements of SEC-registered broker-dealers.
What CPAs need to know about 4 cryptoasset classes
This article breaks down cryptoassets into four categories.
Changes related to peer review proposed for UAA
The National Association of State Boards of Accountancy (NASBA) is proposing changes to the Uniform Accountancy Act (UAA) Model Rules related to peer review programs.
GASB proposes implementation guide for fiduciary activities standard
GASB published a proposed implementation guide that provides questions and answers about the board’s new standards for state and local government accounting and financial reporting for fiduciary activities.
