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.
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Accounting & reporting
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.
FASB issues update to leases guidance
The amended Accounting Standards Update addresses concerns related to terms and conditions to be considered and accounting for leasehold improvements.
FASB issues proposed changes to cryptoasset accounting, disclosure
FASB is seeking comments on a proposed Accounting Standards Update that is intended to improve the accounting for and disclosure of certain cryptoassets.
SEC moves toward requiring electronic filings
The commission proposed amendments that would require registrants to file a number of submissions electronically as it works to modernize the agency’s information collection and analysis methods.
FASAB issues bulletin on reimbursable work agreements
FASAB issued a technical bulletin to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54 and other relevant statements.
SEC proposals target cybersecurity
Proposals would expand who must report on cybersecurity and data breaches, as well as what they must report.
FASB proposes enhancements to income tax disclosures
FASB is seeking comments on a proposed Accounting Standards Update that addresses requests for improved income tax disclosures.
3 trends that will reshape accounting and finance in 2023
The chief accounting officer of Workday shares on technology and talent strategy, zero-day close, and accounting’s role in driving value creation.
Managing interest rate risk with FASB’s new hedging flexibility
Find out how to apply FASB’s updated
hedge accounting guidance, which more
closely aligns a company’s financial
reporting with the results of its risk
management strategy.
FAF debuts enhanced access to online accounting standards
The Financial Accounting Foundation released its free, enhanced online access to the FASB Accounting Standards Codification and the GASB Governmental Accounting Research System.
Opportunity knocks for firms as ESG reporting, assurance levels rise
More large companies than ever are reporting ESG data and obtaining assurance, according to a global survey, prompting many U.S. audit firms to explore how to best position themselves for an increased role.
First global sustainability standards approach the finish line
The International Sustainability Standards Board announces that IFRS S1 and IFRS S2 will be released in June and effective for some companies in 2024.
SEC adopts rule changes to reduce risks, proposes two other rules
The SEC adopted rule changes to reduce risks in clearance and settlement, shortening the standard settlement cycle for most broker-dealer transactions in securities, and proposed two other rules.
GASB proposes implementation guidance on subscription-based IT arrangements
GASB issued a proposed implementation guidance that is intended to clarify, explain, or elaborate on existing guidance on subscription-based information technology arrangements.
FinCEN provides time estimates for compiling beneficial ownership details
FinCEN estimates that most companies will have a simple structure that will require 90 minutes per response, but complex entry filings will require much more time.
FASB provides update on disaggregation project
Tentative board decisions call for entities to disaggregate costs incurred that are expensed as occurred and costs incurred that are capitalized as inventory.
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