FASB financial accounting & reporting

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 proposed an accounting standard that would clarify how lessors should handle certain scenarios under the board’s new lease accounting standard.

FASB will not delay the effective date of its new lease accounting standard, board Chairman Russell Golden said at the AICPA Conference on Current SEC and PCAOB Developments.

FASB proposed clarifications and changes to its recently issued accounting standards on credit losses, hedging, and recognition and measurement.

FASB changed the transition requirements and clarified the scope of its standard on accounting for credit losses, which was issued in 2016.

A new FASB staff paper provides information to private company franchisors as they decide how to recognize certain franchise fees under the new revenue recognition standard.

A majority of S&P 500 companies chose the simplicity of the modified retrospective transition for their revenue recognition standard implementation, a new white paper shows.

FASB issued a proposal that would align the accounting for production costs of an episodic TV series with the accounting for films.

In a new standard, FASB clarified the interaction between the guidance for certain collaborative arrangements and the revenue recognition standard.

FASB expanded the list of benchmark interest rates that are permissible in the application of hedge accounting.