FASB financial accounting & reporting

TOPICS / ACCOUNTING & REPORTING

July 1, 2017

FASB considers changes to GAAP taxonomy

The board issued an invitation to comment.

July 1, 2017

FinREC seeks comment on telecommunications revenue recognition issue

The committee is updating an industry-specific guide.

July 1, 2017

FASB issues new rules for service concession arrangements

he standard clarifies accounting for operating entities serving public-sector grantors.

June 27, 2017

FASB proposes superseding guidance for S&L bad debt reserves, steamship entities

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

June 22, 2017

FASB issues proposal for consolidation of VIEs

A proposed ASU would give private companies an alternative for financial reporting associated with consolidation of variable-interest entities.

June 22, 2017

What FASB has in store for not-for-profits

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

June 7, 2017

Hedging may get easier under new FASB accounting standard

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

June 1, 2017

FinREC issues revenue recognition drafts for 4 industries

Airlines, gaming, hospitality, and time-share are addressed.

June 1, 2017

FASB issues new amortization accounting rules for callable debt securities

Stakeholders said current GAAP distorts interest income.

June 1, 2017

U.S. tax and FASB’s new paradigm for revenue recognition

Companies must prepare for unforeseen implications for tax planning.

May 30, 2017

FASB performs maintenance on Accounting Standards Codification

FASB made the first of several scheduled maintenance updates to its Accounting Standards Codification as part of an effort to simplify the codification’s structure.

May 16, 2017

FASB issues accounting standards update on service concession arrangements

FASB intends to provide clarity to help financial statement preparers determine the customer of the operation services for transactions.

May 1, 2017

FASB updates requirements for employee benefit plans

The changes relate to disclosure and presentation for master trusts.

May 1, 2017

FASB changes presentation of defined benefit costs

The current presentation was said to combine heterogeneous elements.

May 1, 2017

FASB clarifies scope of asset derecognition guidance

Accounting for partial sales of nonfinancial assets is also addressed.

May 1, 2017

FASB proposes simplifying accounting for share-based payments to nonemployees

The changes would expand the scope of transactions covered by ASC Topic 718.

May 1, 2017

FinREC publishes drafts on 5 revenue recognition issues

The latest topics include aerospace, broker-dealers, time-share, and utilities.

April 3, 2017

Revenue recognition working drafts issued for 4 industries

Working drafts for the airlines, gaming, hospitality and time-share industries were included in the latest group of issues exposed for the AICPA’s guide to implementing FASB’s revenue recognition standard.

April 1, 2017