Implementation guidance for leases is among the topics included in the Federal Accounting Standards Advisory Board’s updated technical releases.
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Accounting & reporting
SEC adopts ‘pay versus performance’ disclosure rules
Amendments will require public companies to disclose details about the relationship between executive compensation and financial performance.
SEC releases draft of 5-year strategic plan
The SEC aims to update its disclosure framework and upgrade its protection measures and its workforce in order to uphold its oversight of capital markets.
FASB issues proposal to improve accounting for investments in tax credit structures
The FASB issued a proposed Accounting Standards Update intended to improve the accounting and disclosures for investments in tax credit structures.
IAASB issues new FAQs for reporting going concern matters
The IAASB has issued a nonauthoritative publication to address some of the common questions related to reporting going concern matters in the auditor’s report.
AICPA & CIMA comment on ISSB drafts of sustainability disclosures
A comment letter applauds efforts to develop global standards for disclosing sustainability information and provide suggestions related to the two exposure drafts.
FASB proposes changes to transition requirements in insurance guidance
FASB issued a proposed Accounting Standards Update (ASU) that would amend transition guidance in an update from 2018 for long-term insurance contracts that have been derecognized because of a sale or disposal of individual or a group of contracts or legal entities before the effective date.
Tackling the IT challenges of dealing with cryptoassets
Digital assets, from bitcoin to tokens, are a new asset class that challenges technology used for enterprise resource planning and financial reporting. Here’s what you should consider if you decide to take on these challenges.
FASB issues standard to improve fair value guidance for equity securities
FASB issued an Accounting Standards Update that improves financial reporting for investors and other financial statement users.
FASB adds three new projects to technical agenda
FASB announced the addition of three new projects to its technical agenda based on feedback received during its 2021 agenda consultation project.
AICPA publishes Q&A to explain SEC guidance on cryptoassets
The AICPA has published a set of questions and answers that explains recently released SEC staff guidance regarding the accounting for entities that have obligations to safeguard cryptoassets held for their platform users.
GASB streamlines guidance on compensated absences with unified model
The GASB updates the model for compensated absences to enhance recognition and measurement requirements and simplify disclosure requirements.
Addressing continued rise in Sarbanes-Oxley Act compliance costs
An annual survey reveals higher compliance costs in 2022 and suggests that automation may present a path to better efficiency.
FASB invites stakeholders to share views on accounting for government grants
FASB is seeking feedback on whether IAS 20 represents a workable solution for improving generally accepted accounting principles for business entities as it relates to the accounting for government grants.
GASB guidance focuses on improving, clarifying standards for accounting changes
GASB issued guidance designed to improve the accounting and financial reporting requirements for accounting changes and error corrections.
SEC announces updates to electronic filing requirements
The SEC said it has adopted amendments to require the electronic filing or submission of certain documents that currently are permitted to be filed or submitted in paper format.
Goodwill triggering event alternative provides relief to some companies
Learn how FASB’s goodwill accounting alternative for evaluating triggering events can make financial reporting easier for private companies and not-for-profit entities beyond the pandemic.
FASB to explore rules on accounting for ESG credits
The FASB said last week that it will explore new rules regarding the accounting for financial instruments with ESG-linked features and regulatory credits.
SEC proposes enhanced disclosures related to ESG
The SEC proposed amendments to rules and reporting forms to promote consistent, comparable and reliable information for investors concerning funds’ and advisers’ incorporation of environmental, social and governance factors.
FASAB seeks input on proposed amendments related to leases
The FASAB proposed changes intended to clarify the application of lessee and lessor discounting requirements.
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From The Tax Adviser
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Current developments in taxation of individuals: Part 1
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Current Developments in Taxation of Individuals: Part 1
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