FASB financial accounting & reporting

Working drafts of accounting issues related to the Financial Accounting Standards Board’s new credit losses standard were issued by the AICPA Financial Reporting Executive Committee.

FASB addressed one of the most challenging areas of financial reporting with a proposal intended to help distinguish liabilities from equity.

FASB issued a proposal that would clarify the interaction between its standard on recognition and measurement of financial instruments and its standard on equity method investments.

FASB issued an Invitation to Comment on whether the board should make changes to the accounting for certain identifiable intangible assets acquired in a business combination and subsequent accounting for goodwill.

FASB proposed changes that are designed to address issues that have arisen for stakeholders implementing the board’s new standard for accounting for credit losses.

FASB’s new current expected credit losses standard contains big implementation challenges for the financial services industry but also applies to companies in other industries.

FASB issued new accounting rules that are designed to ease the transition to the board’s new credit losses standard by providing an option to measure certain types of assets at fair value.

FASB’s new standard for recording credit losses presents a huge change to accounting for financial institutions, and affects other organizations as well. A new tool helps audit committees in their oversight of this important implementation.