FASB News Will FASB Need to Consider AI in Overhaul of Accounting for Software Costs? FASB may need to consider how artificial intelligence (AI) would…
FASB News Advances Made on Proposal on the Concept of Measurement FASB has made progress on the concept of measurement—a chapter being developed in the…
FASB News Staff Propose Updates to U.S. GAAP Taxonomy on Profits Interest Awards FASB staff members are seeking public input on introducing recently proposed guidance…
FASB News Board Follows a Rigorous Process to Develop U.S. Accounting Rules FASB Chair Richard Jones and Technical Director Hillary Salo detailed the board’s due…
FASB News Private Companies Face ‘Lack of Soured Loans’ Data Issues Privately held companies had a “good” problem to solve during this year’s first quarter…
FASB News EITF to Clarify Reporting Around When Convertible Debt is Issued to Raise Capital FASB has added a project to its special task force…
FASB News Three Proposals Plus Final Concepts Chapter Coming in Second Quarter FASB plans to issue three proposals plus a new conceptual framework chapter on…
FASB News Proposal Could Simplify Accounting for Acquired Loans FASB has voted to issue a proposal that will provide a single accounting model for all…
FASB News Newly Issued FASB Accounting Rule Offers Simpler Way to Report Federal and State Tax Credit Investments Accounting guidance that was specifically developed for…
FASB News 2023 Financial Reporting Taxonomies Finalized The SEC has accepted the 2023 U.S. GAAP Financial Reporting Taxonomy (GRT) and the 2023 SEC Reporting Taxonomy…
FASB News Proposal that Will Boost Disclosures around Income Taxes Companies Pay in United States, Overseas FASB has proposed a package of income tax disclosure…
FASB News FASB Chair, Former SEC Chief Accountant Slated for Taxonomy Webcast FASB Chair Richard Jones and former SEC Chief Accountant Wes Bricker will address…
FASB News Rulemakers Studying How Investors Use Artificial Intelligence to Consume Financial Data FASB and GASB are actively monitoring the evolution of electronic financial reporting,…
FASB News Board Votes to Issue Accounting Rule Changes for Leases under Common Control FASB voted by a 4-to-3 margin to issue a narrow standard…
FASB News One New Standard and Three Proposals Expected this Quarter FASB plans to issue one new standard and three proposals by the end of…
FASB News Questions on Applicability of U.S. Deferred Tax Accounting to OECD Pillar Two Rules FASB staff have been fielding questions about the applicability of…
FASB News Part of Proposal on Lease Accounting Draws Skepticism FASB’s November 2022 proposal on lease agreements between commonly controlled entities received mixed reviews with…
FASB News Board Will Issue Rule for Tax Credit Investments FASB has unanimously agreed with its Emerging Issues Task Force (EITF) that a proposal related…
PCAOB News Analysis Finds Decline in Number of Critical Audit Matters The PCAOB published post-implementation review (PIR) reports on its recent pronouncements on critical audit…
FASB News Proposal Raises Red Flags Over Definition of Joint Venture FASB may need to revise the definition of a joint venture in order for…
FASB News Private Companies Back Proposal on Related Party Leases Under Common Control The Private Company Council (PCC), threw its support behind FASB’s November proposal…
FASB News Small Private Construction Companies Not Complying With New Revenue Rules Small private companies in the construction sector appear oblivious to the fact that…
FASB News Investors Await Disclosure Rules on Income Taxes Paid FASB Chair Richard Jones reassured advisers that a proposal the board plans to issue next…
FASB News Advisers Offer Tepid Approval on Board Developing Rules for Government Grants FASB’s main advisory body said the board should advance its efforts to…
FASB News Proposed Clarification of Lease Accounting Rules for Subsidiaries Controlled by the Same Parent Company FASB has proposed what could be the eighth round…
FASB News Proposed Concepts for Recognizing and Derecognizing Financial Statement Items FASB has issued a proposal for public comment on the concepts it plans to…
FASB News Small Public Filers Urge Efforts on Accounting Rules for Government Grants FASB’s current research on accounting for government grants should be advanced to…
FASB News Two Standards and Two Proposals Coming by Year-End, Plus a Peak into 2023 For the remainder of this year, FASB plans to publish…
IASB News Companies Will Have to Disclose Pollution Caused by External Suppliers Multinational and other companies will be required to disclose their indirect greenhouse gas…
FASB News New Conceptual Framework Chapter on ‘the Reporting Entity’ Proposed Companies can provide comments on a FASB proposal that would define the concept of…