FASB financial accounting & reporting

New rules proposed by FASB are designed to make it easier for organizations to decide if a transaction should be accounted for as a contribution or exchange.

Here’s what organizations need to consider as they implement the new FASB rules—and why it’s smart to start that work promptly.

The AICPA is seeking comment on issues to be included in its guide for implementation of FASB’s new revenue recognition standard.

FASB issued a new accounting standard simplifying the accounting for certain financial instruments with down round features.

FinREC is requesting feedback on four working drafts that provide industry-specific guidance for entities implementing FASB Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers (Topic 606).

Technical corrections proposed by FASB would affect accounting guidance for certain bad debt reserves of savings and loans, and steamship entities.

The pace of standard setting may slow in the coming months, but one key new project is on the horizon.

Accounting obstacles that prevented some organizations from using hedging to manage risks may be eliminated by a standard that received preliminary approval from FASB.