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October 29, 2020

FASAB proposal would clarify presentation requirement

A proposal issued by the Federal Accounting Standards Advisory Board would clarify how an advance should be presented in component entity financial statements.

October 29, 2020

FASB proposes scope clarification for reference rate relief

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.

October 28, 2020

FASB staff weighs in on debt modifications and restructurings

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.

October 26, 2020

FASB proposes clarifying forwards and options accounting

FASB would clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified forwards and options under a proposal issued Monday.

October 20, 2020

FASB proposes 3 targeted lease accounting changes

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.

October 16, 2020

Government reporting and the future: A Q&A with GASB Chairman Joel Black

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.

October 15, 2020

FASB clarifies callable debt securities accounting

FASB published a new standard that clarifies accounting requirements for callable debt securities.

October 14, 2020

Costs and benefits: A Q&A with FASB Chair Richard Jones

The chair of the Financial Accounting Standards Board describes his vision for standard setting and his dedication to making sure the costs of new rules don’t exceed the benefits.

October 8, 2020

Fair value, stablecoins addressed in new AICPA guidance

Nonauthoritative set of 13 Q&As also touches on how investment companies and broker-dealers should account for digital assets.

September 29, 2020

How auditors can enhance the reliability of non-GAAP reporting

Practitioners are not required to provide an opinion on non-GAAP measures during a financial statement audit, but they can be engaged to perform additional procedures related to this information, according to a new Center for Audit Quality report.

September 23, 2020

SEC amends rules for whistleblowers, shareholder proposals

The SEC voted to amend rules that govern its whistleblower program and the amount a shareholder must hold to have a proposal included in a company’s proxy statement.

September 23, 2020

New FAQs address health care entity pandemic accounting

Pandemic-related accounting issues for health care entities are addressed in new AICPA guidance that has been added to a list of previously posted frequently asked questions.

September 22, 2020

New ESG reporting metrics released by World Economic Forum

Environmental, social and governance measures and disclosures released by the World Economic Forum are designed to make it easier for companies to benchmark their sustainable business performance.

September 21, 2020

FASB proposes expedient for private company franchisors

FASB issued a proposal that would provide a practical expedient for private company franchisors in how they analyze certain activities when determining their performance obligations in a franchise agreement under the board’s new revenue recognition standard.

September 17, 2020