FinREC issues working drafts on credit loss accounting issues
A new guide focuses on lenders and insurance companies.
Accounting Compliance and Reporting (US)
Lease accounting rules get additional tweaks
FASB issued minor amendments, targeted changes, and a proposal addressing lessors' implementation challenges.
FASB changes insurance accounting
A new standard creates targeted changes for long-duration contracts.
FinREC issues working draft on multiemployer benefit plans
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.
FASB clarifies accounting for grants and contributions
The board also proposed a new definition of collections and issued clarifications on lease accounting and other issues.
FASB simplifies accounting for cloud computing service costs
FASB issued new rules that are designed to reduce complexity for the accounting for costs of implementing a cloud computing service arrangement.
FASB takes big steps on disclosure effectiveness
FASB’s ongoing efforts to improve the effectiveness of disclosures in the notes to financial statements led to multiple changes announced by the board.
Technology issues to consider in lease accounting
Preparers may want to consider technological tools that can help with the accounting and the administration of leases.
Proposal would withdraw inter-entity cost guidance
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.
FASB addresses credit loss standard concerns
A proposal issued by FASB would amend the transition requirements and scope of the board’s new standard for accounting for credit losses.
FASB changes accounting for long-duration insurance contracts
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.
FASB proposes lessor accounting amendments
Amendments proposed by FASB are intended to make implementation of the new lease accounting standard easier and less costly for lessors.
FinREC issues working drafts on credit loss accounting issues
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.
FASB simplifies accounting for share-based payments
The change aligns accounting of transactions for employees and nonemployees.
FASB attempts to make lease accounting implementation easier
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.
FASB issues 16 minor amendments to lease accounting standard
FASB clarified rules and corrected application of guidance for its lease accounting standard.
FASB issues standard devoted to minor codification improvements
FASB made clarifying changes and corrected unintended application of guidance in a standard that updates its Accounting Standards Codification.
FinREC issues 2 revenue recognition working drafts
Gaming and telecommunications are up for discussion.
FASB supersedes guidance related to Circular 202
No significant effects on current practices are expected.
FASB proposes targeted changes to collaborative arrangements standard
Questions arose with the new revenue recognition standard.
