FASB makes minor adjustments to financial instruments rules
Stakeholders have voiced concerns to FASB about various aspects of the board’s recently issued standards for credit losses, hedging, and recognition and measurement.
U.S. compliance and reporting
Lease accounting tips for public and private companies
Public companies are finding that even though they have implemented FASB’s new lease accounting standard, their work is not nearly done. Private companies, meanwhile, are struggling with their own adoption of the standard.
Lease accounting: A private company perspective
Private companies implementing new lease accounting rules can expect a complex transition and a substantial financial statement impact.
FASB modifies definition of ‘collections’
New rules issued by the FASB align its definition of “collections” with that used by the American Alliance of Museums’ Code of Ethics for Museums.
FASB alters accounting for episodic TV series
FASB issued a standard that converges the accounting guidance for production costs for episodic TV series with the rules for production costs for films.
New FASB standard clarifies lease accounting issues
FASB addressed two lessor implementation issues and clarified an exemption for lessors and lessees from a certain interim disclosure requirement associated with adopting the board’s new lease accounting standard.
FASB proposes guidance for measuring share-based payments to customers
A proposal issued by the Financial Accounting Standards Board would spell out how to measure share-based payments to a customer.
Mastering accounting for business combinations
Finance has a pivotal role to play in facilitating a successful acquisition or merger — and in performing the challenging accounting associated with a business combination.
FASB works to ease lessor accounting challenges
Tweaks and updates addressed implementation challenges.
FASB addresses deferred revenue in business combinations
FASB took a step forward in resolving challenges in its rules for recognizing and measuring deferred revenue in business combinations.
Finding value in revenue recognition implementation
The challenges associated with FASB’s new revenue recognition standard have been substantial for many companies, but at least they’re gaining valuable data and process improvements as a result of the implementation.
FASB proposes transition relief for credit losses standard
FASB proposed providing an option to measure certain types of assets at fair value, a change aimed at making the transition to its new credit losses standard easier.
FASB proposes narrow-scope financial instruments accounting changes
No significant effects on accounting practice are expected.
FASB alters transition requirements, scope of credit losses standard
FASB amended its standard on accounting for credit losses, changing the transition requirements and clarifying the scope of the standard.
Simplifying adoption of NFP financial reporting standard
Tax-exempt organizations are working through the biggest change to not-for-profit financial reporting in 25 years. Smaller organizations with limited resources can smoothly implement FASB’s new rules by following some best practices.
FASB permits new benchmark rate for hedge accounting
The change takes effect alongside an Accounting Standards Update.
FASB proposal addresses accounting for TV series
Alignment with capitalization rules for films is sought.
FASB proposes extending 2 GAAP alternatives to not-for-profits
Under a proposal issued by FASB, not-for-profits would be able to take advantage of the private company GAAP alternatives for accounting for goodwill and accounting for intangible assets in a business combination.
FASB proposal would address lessor implementation challenges
FASB proposed an accounting standard that would clarify how lessors should handle certain scenarios under the board’s new lease accounting standard.
GAAP, SEC taxonomies for 2019 are available
The taxonomies contain updates necessary for meeting GAAP and SEC requirements in financial reporting.
