FASB proposed guidance that would permit nonpublic lessees to use a risk-free rate as the discount rate for leases by class of underlying asset rather than at the entitywide level.
FASB financial accounting & reporting
Revenue recognition issues for employee benefit plans are addressed in proposed implementation guidance issued by the AICPA Financial Reporting Executive Committee.
FASB issued a proposal that would expand the current single-layer hedging model and is intended to better align hedge accounting with an organization’s risk management strategy.
FASB issued a standard that is intended to clarify an issuer’s accounting for certain modifications of freestanding equity-classified written call options that remain equity-classified after modification or exchange.
Private companies and not-for-profits have the option to perform goodwill impairment triggering assessments at the end of an interim or annual reporting period under an accounting alternative issued by FASB.
Private companies and not-for-profits will have an option to perform goodwill impairment triggering event assessments at the reporting date (versus on the date of a triggering event as currently required), under an accounting alternative FASB voted to approve.
FASB issued a standard that simplifies revenue recognition for pre-opening activities for private company franchisors.
FASB clarified which derivatives are eligible for optional expedients and exceptions under the new standard that provides accounting relief for reference rate reforms.
FASB issued a proposal that would permit certain private companies and not-for-profits to elect not to perform goodwill assessments related to triggering events.
FASB proposed a standard that is intended to drive consistency in accounting for revenue contracts with customers acquired in a business combination.
FASB will undergo a comprehensive project starting this month to determine its future standard-setting priorities, FASB Chair Richard Jones said at the AICPA Conference on Current SEC and PCAOB Developments.
FASB Chair Richard Jones, CPA, and GASB Chair Joel Black, CPA, describe their visions and priorities in this Q&A.
FASB added a project to its technical agenda that would give certain private companies and not-for-profits the option to perform goodwill triggering event evaluation only on the annual reporting date.
FASB issued a standard that provides a delayed effective date to its long-duration insurance standard for companies adversely affected by the pandemic. The standard also eases requirements for early adopters.
Guidance exists on numerous specific financial reporting issues related to lease concessions, various forms of government assistance, and loan restructurings. Here’s how you can find it.
FASB published a new standard that describes a series of incremental changes to accounting rules that are designed to improve its codification.
Accounting relief from reference rate reform would be extended to a modification known as the “discounting transition” under a proposal issued by the Financial Accounting Standards Board.
FASB staff issued a paper that educates borrowers on accounting for debt modifications and restructurings, which have surged as a result of the coronavirus pandemic.
FASB would clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified forwards and options under a proposal issued Monday.
FASB proposed three targeted changes to its lease accounting guidance. The proposal is a response to feedback the board received during its post-implementation process for the lease accounting standard.