FASB financial accounting & reporting

In response to “the broad and evolving application of the definition of a derivative,” FASB issued an Accounting Standards Update that aims to address stakeholder concerns about the application of derivative accounting.

The optional guidance aims to address concerns shared by private company shareholders related to the cost and complexity of measuring credit losses for accounts receivable and contract assets.

FASB published an Accounting Standards Update that is intended to improve the requirements for identifying the accounting acquirer in FASB ASC Topic 805, Business Combinations.

FASB published a proposed Accounting Standards Update on debt exchange transactions involving multiple creditors.

The SEC approved three taxonomies, including the 2025 GAAP Financial Reporting Taxonomy, and FASB finalized two others.

The council, which advocates for private companies during FASB’s standard-setting process, shares recent accomplishments and its vision for the future.

The board seeks comments on an Accounting Standards Update that addresses 34 issues in GAAP.

The board’s first agenda consultation in three years is focused on identifying targeted improvements to GAAP.

An Accounting Standards Update focuses on the measurement of credit losses for accounts receivable and contract assets for private companies and certain not-for-profit entities.

The standard aims to provide guidance missing in GAAP for the reporting of induced conversions related to settlement of convertible debt instruments.

Public comments are sought on the board’s effort to provide authoritative guidance in an area not currently covered by GAAP. In addition, FASB seeks feedback on potential standard setting related to financial KPIs.