FASB issued a proposed new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements. If finalized, the chapter would represent the completion of the framework.
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TOPICS / ACCOUNTING & REPORTING
FASB financial accounting & reporting
FASB addresses guidance on induced conversions of convertible debt instruments
The comment deadline on the proposed Accounting Standards Update is March 18, 2024.
FASB releases 2024 reporting taxonomies
The 2024 GAAP Financial Reporting Taxonomy and the 2024 SEC Reporting Taxonomy are now available, along with a taxonomy related to XBRL data.
New FASB standard addresses income tax disclosures
In response to investors, a new Accounting Standards Update will require an increased level of disaggregation of income tax disclosures on an annual basis.
FASB issues new cryptoassets standard
The Accounting Standards Update requires entities to report on certain fungible assets at fair value, with changes in fair value recognized in net income.
FASB issues new segment reporting guidance
The final Accounting Standards Update, required for annual periods beginning after Dec. 15, 2023, is designed to “improve financial reporting by providing additional information about a public company’s significant segment expenses” in a timely manner.
FASB amends codification to align with SEC disclosures
The Accounting Standards Update incorporates 14 disclosures from a 2018 SEC final rule into GAAP.
FASB approves cryptoassets standard
The board voted to issue a standard that defines the financial reporting requirements for certain crypto holdings and how the value of those assets should be measured.
FASB issues new chapter of its Conceptual Framework
FASB issued a new chapter of its Conceptual Framework related to the recognition and derecognition of criteria and guidance on when an item should be incorporated into and removed from financial statements.
FASB amendments address financials of newly formed joint ventures
The Accounting Standards Update aims to bring consistency to the financial statements of joint ventures when they are formed.
FASB details its investor outreach efforts
FASB engaged in more than 435 investor interactions in the last year, and the feedback collected is helping fuel several high-priority projects.
FASB proposes improvements to income statement expenses
FASB is seeking comments on a proposed Accounting Standards Update that is intended to provide investors with more decision-useful information regarding a public business entity’s expenses.
FASB proposes improvements to accounting for purchased financial assets
FASB is seeking comments on a proposed Accounting Standards Update intended to improve accounting for purchased financial assets.
FASB issues proposed changes to profit-sharing arrangements
FASB is seeking comments on a proposed Accounting Standards Update related to guidance for entities on determining whether profits interest and similar awards should be accounted for as share-based payment arrangements.
How the Financial Accounting Foundation plans to strengthen oversight
The organization’s latest effort provide a more convenient way for stakeholders with questions about due process in standard-setting to voice their concerns.
FASB issues update to leases guidance
The amended Accounting Standards Update addresses concerns related to terms and conditions to be considered and accounting for leasehold improvements.
FASB issues proposed changes to cryptoasset accounting, disclosure
FASB is seeking comments on a proposed Accounting Standards Update that is intended to improve the accounting for and disclosure of certain cryptoassets.
FASB proposes enhancements to income tax disclosures
FASB is seeking comments on a proposed Accounting Standards Update that addresses requests for improved income tax disclosures.
Managing interest rate risk with FASB’s new hedging flexibility
Find out how to apply FASB’s updated
hedge accounting guidance, which more
closely aligns a company’s financial
reporting with the results of its risk
management strategy.
FAF debuts enhanced access to online accounting standards
The Financial Accounting Foundation released its free, enhanced online access to the FASB Accounting Standards Codification and the GASB Governmental Accounting Research System.
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