FASB eases transition to credit losses standard
FASB issued new accounting rules that are designed to ease the transition to the board’s new credit losses standard by providing an option to measure certain types of assets at fair value.
Accounting Compliance and Reporting (US)
FASB proposes simplifying accounting for income taxes
FASB issued a proposal that is intended to make accounting for income taxes less costly and complex.
Credit losses standard tips for audit committees
FASB’s new standard for recording credit losses presents a huge change to accounting for financial institutions, and affects other organizations as well. A new tool helps audit committees in their oversight of this important implementation.
Q&A discusses ‘direct care’ expenses for collections
A new Technical Question and Answer issued by the AICPA discusses the characteristics of expenses that would be considered “direct care of existing collections” under a new FASB standard that updates the definition of “collections.”
FASB proposes guidance for measuring share-based payments to customers
The change is intended to reduce confusion after a 2018 update.
FASB alters accounting for episodic TV series
The change is a response to the popularity of online streaming services.
FASB addresses deferred revenue in business combinations
The proposal addresses contract liabilities.
New FASB standard clarifies lease accounting issues
An update aligns new and existing guidance.
Polley steps down as head of FAF
After leading the Financial Accounting Foundation (FAF) for 11 years, Terri Polley announced that she is stepping down.
FASB makes minor adjustments to financial instruments rules
Stakeholders have voiced concerns to FASB about various aspects of the board’s recently issued standards for credit losses, hedging, and recognition and measurement.
Lease accounting tips for public and private companies
Public companies are finding that even though they have implemented FASB’s new lease accounting standard, their work is not nearly done. Private companies, meanwhile, are struggling with their own adoption of the standard.
Lease accounting: A private company perspective
Private companies implementing new lease accounting rules can expect a complex transition and a substantial financial statement impact.
FASB modifies definition of ‘collections’
New rules issued by the FASB align its definition of “collections” with that used by the American Alliance of Museums’ Code of Ethics for Museums.
FASB alters accounting for episodic TV series
FASB issued a standard that converges the accounting guidance for production costs for episodic TV series with the rules for production costs for films.
New FASB standard clarifies lease accounting issues
FASB addressed two lessor implementation issues and clarified an exemption for lessors and lessees from a certain interim disclosure requirement associated with adopting the board’s new lease accounting standard.
FASB proposes guidance for measuring share-based payments to customers
A proposal issued by the Financial Accounting Standards Board would spell out how to measure share-based payments to a customer.
FASB works to ease lessor accounting challenges
Tweaks and updates addressed implementation challenges.
Mastering accounting for business combinations
Finance has a pivotal role to play in facilitating a successful acquisition or merger — and in performing the challenging accounting associated with a business combination.
FASB addresses deferred revenue in business combinations
FASB took a step forward in resolving challenges in its rules for recognizing and measuring deferred revenue in business combinations.
Finding value in revenue recognition implementation
The challenges associated with FASB’s new revenue recognition standard have been substantial for many companies, but at least they’re gaining valuable data and process improvements as a result of the implementation.
