Available documents include the 2026 GAAP Financial Reporting Taxonomy and the 2026 SEC Reporting Taxonomy.
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TOPICS / ACCOUNTING & REPORTING
FASB financial accounting & reporting
Reviewing accounting standards updates for 2025
The December A&A Focus webcast reviewed FASB ASUs becoming effective for calendar year-end engagements and looked forward to 2026, delivered practical insights on determining lease terms under FASB ASC Topic 842, and took a look at the nuances of your client’s tax-basis accounting framework.
FASB issues standard to improve interim reporting
The Accounting Standard Update aims to clarify existing reporting requirements, in part by creating a comprehensive list of interim disclosures that are required in interim financial statements.
FASB publishes guidance on accounting for government grants
A new Accounting Standards Update establishes previously missing GAAP guidance related to the recognition, measurement, and presentation of government grants received by a business entity.
FASB updates guidance for hedge accounting, purchased loans
A pair of recently published Accounting Standards Updates recommend five areas for applying economic hedges and address stakeholder concerns related to accounting for acquired financial assets.
FASB update refines reporting scope for derivatives
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.
FASB updates guidance on measurement of credit losses
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.
A&A Focus recap: AICPA CEO, revenue recognition step 5, and quality management
The May webcast featured AICPA CEO Mark Koziel providing his view of the A&A landscape, a deep dive into step 5 of the five-step revenue recognition process outlined in FASB ASC Topic 606, as well as more discussion of quality management.
FASB updates guidance on share-based consideration
The Accounting Standards Update addresses share-based consideration payable to a customer in conjunction with selling goods or services.
FASB issues guidance on business combinations
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 proposes guidance on accounting for debt exchanges
FASB published a proposed Accounting Standards Update on debt exchange transactions involving multiple creditors.
Financial Accounting Foundation issues annual report
FAF report highlights recent FASB and GASB actions and updates its strategic plan published three years ago.
What NFPs need to know about CECL
Guidance on current expected credit losses applies to some not-for-profit organizations. Find out when and how.
FASB finalizes its taxonomies for 2025
The SEC approved three taxonomies, including the 2025 GAAP Financial Reporting Taxonomy, and FASB finalized two others.
A&A Focus recap: Rev rec, AICPA standard setting update, and stablecoins
The March A&A Focus webcast featured a deep dive into step 4 of the five-step revenue recognition process outlined in FASB ASC Topic 606, as well as news on new auditing standards exposure drafts.
Private Company Council issues annual report for the first time
The council, which advocates for private companies during FASB’s standard-setting process, shares recent accomplishments and its vision for the future.
A&A Focus recap: FASB and ASB chair recap and preview activities
The February webcast included one-on-one discussions with the chairs of the accounting and auditing standard setters.
FASB proposes series of changes to accounting standards
The board seeks comments on an Accounting Standards Update that addresses 34 issues in GAAP.
A&A Focus recap: Quality Management FAQs and a 2024 ASU rundown
The January webcast also included a deep dive into step 3 of the five-step revenue recognition process outlined in FASB ASC 606.
Update: Digital assets practice aid addresses new FASB standards
The AICPA resource features new guidance and terminology for financial statement preparers and auditors.
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