FASB News More Changes May be in the Pipeline for Lease Accounting While FASB said earlier this year that it would hold off on making…
FASB News Staff Propose Data Quality Committee Rules, Other Updates to GAAP Taxonomy FASB’s taxonomy staff has issued a proposal that would incorporate seven additional…
FASB News Multinationals May Get Converged Standards on Rate Regulation, Government Grants Multinational companies, many of which have routinely asked for converged solutions for U.S.…
FASB News Inflation Reduction Act Could Impact Future Accounting Standards FASB Chair Richard Jones on August 23 hinted that legislation in the Inflation Reduction Act…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
FASB News SEC Accepts 2022 Q3 Supplemental GAAP Taxonomy FASB said the SEC accepted the 2022 Q3 Supplemental GAAP Taxonomy, which includes improvements to the…
FASB News Trustees Seeking Members for Key Advisory Body FASB’s trustees announced on August 2 that the application period is now open for new members…
FASB News Improvement to Supplier Finance Program Disclosure Rule is Credit Positive, Moody’s Says FASB’s recent decision to make changes to the disclosure of supplier…
FASB News Two SEC Commissioners Urge FASB, GASB Trustees Not to Govern Over ESG Reporting. Two conservative SEC commissioners—Hester Peirce and Mark Uyeda—urged the Financial…
FASB News Taxonomy Update for Long-Term Insurance Rules Proposed FASB staff have proposed an update to the U.S. GAAP Taxonomy with respect to a recently-proposed…
FASB News Pay Attention to Inventory Rules When Reporting Freight Costs Private Company Council (PCC) Chair Candace Wright said she wants to raise awareness about…
FASB News Report Explains Process to Establish New Rulemaking Priorities FASB has published a report about its process for establishing new technical and research agendas,…
FASB News Project to Fix Acquisition Accounting Rules Dropped FASB voted unanimously to drop its project aimed at improving the accounting for asset acquisitions and…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
FASB News Stick with Simple Principle for Income Statement Expenses, Say Advisers Trying to break up income statement expenses into smaller components can quickly become…
FASB News Revising Income Tax Disclosure Rules Won’t be Simple FASB could approach revisions to income tax disclosure rules through the lens of management, according…
IASB News IFRS Taxonomy Staff Seeking Public Input on Mapping ESG Disclosure Rules On May 26, the IFRS Taxonomy staff said they are seeking public…
FASB News Foundation Trustees to Propose Draft of Strategic Plan This Year The Financial Accounting Foundation (FAF) will soon issue a draft of its three-to-five-year…
FASB News FASB’s ESG Research Dives into Nuances of Derivatives Accounting Rules FASB’s research into financial instruments that are linked to environmental, social, and governance…
FASB News Amortization of Goodwill Will Heighten Non-GAAP Usage, Panel Says FASB’s tentative decision to require companies to amortize goodwill amounts will not provide investors…
FASB News Private Company Council to Mull Project on Distinguishing Liabilities from Equity The Private Company Council (PCC) will consider whether it is feasible to…
FASB News Government Involvement in New Areas Needs Study for Project on Grants Rules New areas of government involvement not seen in the past might…
AICPA News CPA Firms Increasingly Hiring Diverse Graduates More diverse graduates are getting into the accounting and finance functions at U.S. CPA firms, according to…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
FASB News No Extension of Troubled Debt Restructurings Rule The FASB has rejected a request by two AICPA panels that the board extend the troubled…
FASB News Troubled Debt, Segment Reporting Slated for Discussions On April 6, FASB discussed whether to extend the troubled debt restructurings (TDR) relief rule it…
FASB News Revised Income Tax Disclosure Project Won’t Be Controversial FASB revised the objective of its income tax disclosure project to focus on targeted improvements,…
FASB News No Heavy Focus on Perks for Government Assistance Research Project Trying to scope recognition and measurement accounting rules on government assistance could prove…
FASB News Definition of SOFR to be Amended for Accounting Rules FASB voted to amend the definition of the Secured Overnight Financing Rate (SOFR) in…
FASB News Credit Losses, Leases Among Topics at CPE Forum FASB’s semiannual online training forum for professionals and companies that offer accounting for continuing professional…