FASB issued four staff Q&As that address financial reporting issues related to the Tax Cuts and Jobs Act.
Accounting and Financial Reporting
FASB proposed a new standard that is intended to help organizations reclassify certain income effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act.
Financial statements prepared in accordance with an AICPA financial reporting framework give lenders nearly as much confidence to loan capital as GAAP-based financial statements for small and medium-size businesses with low credit risk, a published study shows.
Private companies and not-for-profits that elect to apply the guidance in a new SEC staff accounting bulletin should apply all relevant aspects of the bulletin in its entirety, FASB’s staff said.
FASB addressed numerous financial reporting implications of P.L. 115-97, known as the Tax Cuts and Jobs Act.
A proposed FASB Accounting Standards Update seeks to ease the implementation of the new leases accounting standard.
State and local government finance staffs have had to implement several new, significant GASB statements. Here are tips for handling the challenges.
A new working draft issued by the AICPA Financial Reporting Executive Committee addresses a consideration for broker-dealers related to FASB’s new revenue recognition standard.
Companies may initially have difficulty determining the effects of the new federal tax law on their income tax reporting.
Broker-dealer and telecommunications issues are addressed.
Organizations need to consider several factors as they implement new FASB rules — and it’s smart to start that work promptly.
An expert panel addressed 3 issues for health care entities.
FASB updated the US GAAP definition in 2013.
The AICPA issued a new working draft that discusses helpful considerations for broker-dealers implementing FASB’s new revenue recognition standard.
The FASAB issued a proposal that’s designed to protect national security information from being disclosed in publicly issued financial reporting by federal agencies.
FASB superseded guidance for US steamship entities because a 25-year limit has expired, making the guidance irrelevant.
Time is running short in the revenue recognition implementation effort as public companies must adopt FASB’s new standard at the beginning of 2018.
Changes and proposed changes to FASB’s new lease accounting standard that were announced last week addressed financial statement preparers’ most pressing implementation concerns.
Working drafts for a total of five revenue recognition implementation issues in four industries were exposed by the AICPA Financial Reporting Executive Committee.
Five principles can help prevent, detect, or correct the most frequent securities law violations adjudicated by the SEC.