The Accounting Standards Update aims to bring consistency to the financial statements of joint ventures when they are formed.
Advertisement
TOPICS
Accounting & reporting
FASB details its investor outreach efforts
FASB engaged in more than 435 investor interactions in the last year, and the feedback collected is helping fuel several high-priority projects.
FASB proposes improvements to income statement expenses
FASB is seeking comments on a proposed Accounting Standards Update that is intended to provide investors with more decision-useful information regarding a public business entity’s expenses.
SEC adopts final rules regarding cybersecurity disclosures
The SEC adopted final rules requiring companies that file documents with the commission to disclose material cybersecurity incidents and provide periodic disclosure of the registrant’s cybersecurity risk management, strategy, and governance in annual reports.
SEC approves new rules for money-market funds
The SEC adopted amendments to certain rules that govern money market funds under the Investment Company Act of 1940, which are designed to improve the resilience and transparency of money market funds.
4 AICPA & CIMA leaders discuss global sustainability standards
Leaders with their finger on the pulse of sustainability reporting see an opportunity for accountants to create value. They also see that challenges such as interoperability and capacity building will need to be addressed.
GASB provides guidance on application of standards
GASB has issued implementation guidance in the form of questions and answers, that is intended to clarify a series of the board’s pronouncements.
The key role accountants will play in the shifting definition of value
An ESG leader from AICPA & CIMA explains more about new global sustainability standards in this podcast episode with transcript. Topics include the shifts that business in general and the accounting profession in particular should make in response.
FASB proposes improvements to accounting for purchased financial assets
FASB is seeking comments on a proposed Accounting Standards Update intended to improve accounting for purchased financial assets.
In one minute, this simple tool could save practitioners hours
Practitioners now have at their fingertips an interactive PDF that can quickly help determine whether AR-C Section 70 of SSARS No. 21 is required to be applied when performing accounting services.
Historic global standards for sustainability reporting released
The IFRS Foundation’s International Sustainability Standards Board issued IFRS S1 and IFRS S2 on Monday, the first two global standards for sustainability reporting.
FASAB committee proposes changes to guidance on leases
With a new standard for reporting on leases soon to be effective, the Accounting and Auditing Policy Committee is seeking comments on updates to its leases guidance in a 2021 technical release.
SEC proposals address risk management for clearinghouses
The proposals would require the establishment of a risk-based margin system that monitors intraday exposure on an ongoing basis, in addition to requiring a more robust recovery and wind-down plan.
Why private companies need a plan for ESG reporting, assurance
Even if regulations don’t legally apply to private companies, they often apply from a practical standpoint. A new resource offers guidance on the importance of assuring sustainability data for public and private companies alike.
FASAB seeks feedback on its existing standards
The FASAB is seeking comments on its Reexamination of Existing Standards project to ensure that its standards meet users’ needs and provide financial information that supports public accountability and transparency.
FASB issues proposed changes to profit-sharing arrangements
FASB is seeking comments on a proposed Accounting Standards Update related to guidance for entities on determining whether profits interest and similar awards should be accounted for as share-based payment arrangements.
SEC increases transparency requirements for private, public securities
One set of amendments affects advisers for large hedge funds and private-equity funds; a second set of amendments increase public company disclosures related to buybacks.
How the Financial Accounting Foundation plans to strengthen oversight
The organization’s latest effort provide a more convenient way for stakeholders with questions about due process in standard-setting to voice their concerns.
FASAB issues statement to clarify lease terms
The Federal Accounting Standards Advisory Board issued a statement intended to provide targeted technical clarifications to further facilitate implementation of SFFAS 54, Leases.
COSO releases internal control guidance for sustainability reporting
COSO has published supplemental guidance that can be used to apply its internal control framework to reporting on sustainability.
Features
FROM THIS MONTH'S ISSUE
Tax season quick guide
Get ready for tax season with the JofA’s annual filing season quick guide, an easy-to-use compilation of dollar thresholds, tax tables, standard amounts, credits, and deductions. Download and print for quick reference this tax season.
From The Tax Adviser
December 31, 2025
Practical tax advice for businesses as a result of the OBBBA
November 30, 2025
Digital asset transactions: Broker reporting, amount realized, and basis
October 31, 2025
