FASB financial accounting & reporting

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 published a proposed Accounting Standards Update on debt exchange transactions involving multiple creditors.

The SEC approved three taxonomies, including the 2025 GAAP Financial Reporting Taxonomy, and FASB finalized two others.

The council, which advocates for private companies during FASB’s standard-setting process, shares recent accomplishments and its vision for the future.

The board seeks comments on an Accounting Standards Update that addresses 34 issues in GAAP.

The board’s first agenda consultation in three years is focused on identifying targeted improvements to GAAP.

An Accounting Standards Update focuses on the measurement of credit losses for accounts receivable and contract assets for private companies and certain not-for-profit entities.

The standard aims to provide guidance missing in GAAP for the reporting of induced conversions related to settlement of convertible debt instruments.

Public comments are sought on the board’s effort to provide authoritative guidance in an area not currently covered by GAAP. In addition, FASB seeks feedback on potential standard setting related to financial KPIs.

The guidance is intended to improve and clarify current guidance as opposed to fundamentally changing the nature of guidance in FASB ASC Topic 270, Interim Reporting.

FASB published an Accounting Standards Update requiring public companies to disclose additional information about certain expenses in the notes to financial statements.

FASB published a proposed Accounting Standards Update that is intended to improve the requirements for identifying the accounting acquirer in a business combination.