FASB issued a proposal that would align the accounting for production costs of an episodic TV series with the accounting for films.
Accounting Compliance and Reporting (US)
In a new standard, FASB clarified the interaction between the guidance for certain collaborative arrangements and the revenue recognition standard.
The board also addressed concerns about its standard on credit losses.
FASB expanded an accounting alternative for private companies and changed the rules for all entities for deciding whether a decision-making fee is a variable interest.
FASB expanded the list of benchmark interest rates that are permissible in the application of hedge accounting.
A new guide focuses on lenders and insurance companies.
FASB issued minor amendments, targeted changes, and a proposal addressing lessors' implementation challenges.
A new standard creates targeted changes for long-duration contracts.
The AICPA Financial Reporting Executive Committee (FinREC) issued a working draft of a proposed chapter on multiemployer benefit plans and illustrative financial statements, which will be added to the AICPA Audit and Accounting Guide Employee Benefit Plans.
The board also proposed a new definition of collections and issued clarifications on lease accounting and other issues.
FASB issued new rules that are designed to reduce complexity for the accounting for costs of implementing a cloud computing service arrangement.
FASB’s ongoing efforts to improve the effectiveness of disclosures in the notes to financial statements led to multiple changes announced by the board.
Preparers may want to consider technological tools that can help with the accounting and the administration of leases.
A new Federal Accounting Standards Advisory Board proposal is designed to eliminate inconsistencies in the board’s guidance for federal entities’ accounting for inter-entity costs.
A proposal issued by FASB would amend the transition requirements and scope of the board’s new standard for accounting for credit losses.
Companies that sell products such as life insurance, disability income insurance, long-term-care insurance and annuities will change their accounting under new rules issued by FASB.
Amendments proposed by FASB are intended to make implementation of the new lease accounting standard easier and less costly for lessors.
The AICPA’s Financial Reporting Executive Committee (FinREC) has issued working drafts of accounting issues related to implementation of FASB’s new standard for accounting for credit losses.
The change aligns accounting of transactions for employees and nonemployees.
FASB has issued targeted changes to its new lease accounting standard that are designed to make implementation easier and reduce costs for financial statement preparers.