FASB financial accounting & reporting

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.

Changes to the revenue recognition standard proposed by FASB are designed to clarify guidance related to identifying performance obligations and licensing.

FASB issued a proposal addressing diversity in practice related to derecognizing liabilities related to certain unredeemed, prepaid cards.

FASB issued a proposed Accounting Standards Update that would delay the effective date of the new, converged revenue recognition standard by one year.

Three Accounting Standards Updates proposed by FASB seek to simplify accounting for employee benefit plans.

Not-for-profit financial statement preparers would experience significant changes in practice as a result of new standards proposed Wednesday by FASB.

FASB issued separate accounting standards Wednesday that are designed to simplify reporting of certain employer retirement obligations and assets, as well as provide explicit guidance about how to account for fees paid in a cloud-computing arrangement.

The standard requires that debt issuance costs not be classified as a deferred charge or deferred credit.

FASB voted to propose a one-year delay in the effective date of the new, converged revenue recognition standard.

Some financial statement preparers have said the current effective date doesn’t give them time to gather the data they need.

FASB is expected to release proposals designed to simplify the equity method of accounting and to simplify the accounting for measurement period adjustments in a business combination.

The Financial Accounting Standards Board voted to propose new requirements designed to make not-for-profit financial statements more useful.

FASB’s Emerging Issues Task Force is expected to consider whether the new, converged revenue recognition standard applies to certain prepaid cards.