FASB financial accounting & reporting

FASB published an accounting standards update that formalizes a one-year deferral in the effective date of its new revenue recognition standard.

FASB issued guidance designed to clarify when a scope exception to derivatives and hedging guidance can be applied to certain electricity contracts within nodal energy markets.

FASB is seeking comments on two Proposed Accounting Standards Updates related to derivatives and hedging.

The Financial Accounting Standards Board issued a three-part standards update designed to make accounting for employee benefit plans less complex.

The Financial Accounting Standards Board has issued amendments designed to make the subsequent measurement of inventory less complex.

Citing challenges for financial statement preparers, FASB voted to delay the effective date of the new revenue recognition standard by one year, with early adoption permitted as of the original effective date.

FASB issued proposals that are intended to simplify the equity method of accounting and improve employee share-based payment accounting.

FASB issued new disclosure requirements for insurance companies that are designed to provide more information about liabilities related to short-duration contracts.

FASB issued a proposal that is intended to simplify accounting for adjustments made to provisional amounts recognized in a business combination.

An accounting standard FASB issued in 2007 to address ownership interests within a company’s subsidiary achieves its purpose but does have areas that might be improved, a review found.