Accounting & Reporting

FASB proposes update to leases guidance

FASB is seeking comments on a proposed Accounting Standards Update intended to improve accounting guidance on related-party arrangements between entities under common control.

SEC publishes 5-year strategic plan

Plan calls for a focus on protecting the public against fraud, implementing robust regulations, and supporting a skilled and diverse workforce.

FAF publishes new strategic plan

The Financial Accounting Foundation released its new strategic plan, which outlines the strategic goals that the organization will address over the next several years.

FASB seeks input on proposed changes to accounting for joint ventures

The proposed Accounting Standards Update intends to provide investors and other allocators of capital (collectively, investors) with more decision-useful information in a joint venture’s separate financial statements and reduce diversity in practice in this area of financial reporting.

SEC adopts two rules, proposes a third

Adopted rules aim to ensure that company executives return erroneously awarded compensation and that mutual fund investors receive transparent information. A proposed rule adds to investment advisers’ responsibility to their clients.

FASB proposes improvements to segment reporting

FASB issued a proposed Accounting Standards Update that would improve the disclosures about a public entity’s reportable segments and address requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses.

FASAB seeks comments on proposal related to reimbursable work agreements

The FASAB released an exposure draft technical bulletin, Intragovernmental Leasehold Reimbursable Work Agreements, which is intended to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54, Leases, and other relevant statements.

Where to find December’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

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