FASB published a proposed Accounting Standards Update to improve investment company financial reporting by amending how investment companies measure the fair value of an equity security that is subject to a contractual sale restriction.
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TOPICS / ACCOUNTING & REPORTING
FASB financial accounting & reporting
FASB seeks comment on hedge accounting guidance
FASB published two Accounting Standards Updates recently. One is intended to improve accounting guidance for interest rate risk hedging and net investment hedging, and the other relates to guidance for certain market-return cash balance plans.
FASB issues standard for clarifying environmental credit disclosures
FASB’s chair said that the Accounting Standards Update features guidance “that previously did not exist” related to environmental credits and environmental credit obligations.
FASB publishes guidance on paid-in-kind dividends
FASB published an Accounting Standards Update that provides authoritative guidance on how an issuer should initially measure paid-in-kind dividends on equity-classified preferred stock.
Private Company Council issues annual report
The report highlights the activities of the group charged with working with FASB to improve the process of setting accounting standards for private companies.
FASB publishes its taxonomies for 2026
Available documents include the 2026 GAAP Financial Reporting Taxonomy and the 2026 SEC Reporting Taxonomy.
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.
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