FASB financial accounting & reporting

FASB issued a proposal that is designed to eliminate diversity in the classification and presentation of changes in restricted cash on the statement of cash flows.

FASB voted to draft a standard that will require an expected-loss approach for reporting of credit losses on loans and other financial assets rather than an incurred-loss approach.

FASB issued a proposal that would make technical corrections and minor changes to its guidance in response to suggestions from stakeholders.

FASB is updating an accounting standard to help preparers identify performance obligations and implement licensing guidance in accordance with the new revenue recognition standard.

The standard includes changes that apply to all organizations, plus some simplifications that apply just to private companies.

Through its simplification initiative, FASB is identifying areas of GAAP where complexity can be reduced without sacrificing the usefulness of information provided in financial statements.

The Financial Accounting Standards Board clarified accounting for embedded derivatives in an accounting standard.

FASB issued financial reporting standards that address recognition of breakage for prepaid stored-value products and the effects of derivative contract novations on existing hedge accounting relationships.

FASB issued its long-awaited guidance on accounting for leases. Here are some things companies may want to consider as they work to comply with the standard.

FASB issued a new standard on financial reporting for leases that is designed to bring transparency and comparability to lessee balance sheets.