FASB financial accounting & reporting

FASB proposes update to leases guidance

FASB is seeking comments on a proposed Accounting Standards Update intended to improve accounting guidance on related-party arrangements between entities under common control.

FAF publishes new strategic plan

The Financial Accounting Foundation released its new strategic plan, which outlines the strategic goals that the organization will address over the next several years.

FASB seeks input on proposed changes to accounting for joint ventures

The proposed Accounting Standards Update intends to provide investors and other allocators of capital (collectively, investors) with more decision-useful information in a joint venture’s separate financial statements and reduce diversity in practice in this area of financial reporting.

FASB proposes improvements to segment reporting

FASB issued a proposed Accounting Standards Update that would improve the disclosures about a public entity’s reportable segments and address requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses.

FASB proposes changes to transition requirements in insurance guidance

FASB issued a proposed Accounting Standards Update (ASU) that would amend transition guidance in an update from 2018 for long-term insurance contracts that have been derecognized because of a sale or disposal of individual or a group of contracts or legal entities before the effective date.

Where to find December’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

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