Accounting & reporting

Clarifications on guidance for contract costs, and preproduction costs related to long-term supply arrangements are included in the proposal.

FASB issued a proposal that would simplify goodwill impairment testing. The board proposed removing Step 2 from the goodwill impairment test.

FASB issued a proposal that is designed to eliminate diversity in the classification and presentation of changes in restricted cash on the statement of cash flows.

FASB voted to draft a standard that will require an expected-loss approach for reporting of credit losses on loans and other financial assets rather than an incurred-loss approach.

FASB issued a proposal that would make technical corrections and minor changes to its guidance in response to suggestions from stakeholders.

FASB is updating an accounting standard to help preparers identify performance obligations and implement licensing guidance in accordance with the new revenue recognition standard.