FASB News Independent Joint Ventures Getting Specific Disclosure Rules FASB continued to hammer out a proposal for joint venture formations, voting on the disclosures that…
FASB News Same Expense Disclosures to Be Required for Single and Multiple Segment Companies FASB continues to build a proposal for segment disclosures, as the…
FASB News Advisers Call for More Specificity in Investor Outreach FASB’s main advisers said the board should be more specific in its investor outreach, citing…
FASB News Federal Reserve Pushes for FASB Rules on Digital Assets The Board of Governors of the Federal Reserve System added its voice to that…
FASB News Second FASB Forum for CPE Providers Announced FASB will host its second online training forum next month for professionals and companies who offer…
FASB News FASB Discussions with Nonprofits Include Revenue, Contributions FASB met on September 14 with its Not-for-Profit Advisory Committee (NAC) to focus on issues that…
FASB News Feedback on Agenda Consultation Document Expected Late this Year FASB will discuss public feedback received from its agenda consultation document later this year…
FASB News Efforts to Modernize Technology Systems to be Completed Next Year The Financial Accounting Foundation’s (FAF) project to replace the obsolete technology used 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 Subtle Rebuke over Investor Outreach Efforts FASB published a detailed report of its outreach with investors, which showcased how it regularly engages with…
FASB News Concerns Resurface over Corporate Stock Buybacks FASB should appoint a study group to determine the proper accounting and reporting of the financial results…
FASB News Pending Disclosure Rules on Government Incentives Don’t go Far Enough FASB has gotten a lukewarm response from market watchers on pending new disclosure…
FASB News Eight Issues Surfaced in Post-Mortem of Revenue Accounting Rules FASB said eight topics surfaced as challenges for public companies in its post-implementation review…
IASB News Extra 290 Days for Feedback on Proposed Disclosure Rules Users of IFRS standards will get an extra 290 days to evaluate proposed changes…
FASB News Should the EITF’s Purview be Broadened? Some accounting professionals have suggested that FASB broaden the Emerging Issues Task Force’s (EITF) purview so that…
FASB News Life Insurers Ask for Expanded Hedge Accounting Proposal Recent comments from the insurance sector advocated that a recent FASB proposal to provide a…
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 Decisions on Restricted Equity Stock Sales Would Cause Investment Funds to Overstate Assets FASB’s recent decisions related to valuing equity securities that are…
FASB News Two GAAP Taxonomy Implementation Guides Proposed for Public Comment FASB’s Extensible Business Reporting Language (XBRL) staff said companies can now weigh in on…
FASB News Annual Goodwill Impairment Test Might Be Eliminated FASB said it favored doing away with the annual goodwill impairment test for public companies, signaling…
FASB News Commenters Press Dire Need for Crypto Accounting Rules FASB should develop an accounting framework to address cryptocurrencies because the value of such assets…
PCAOB News SEC Removes PCAOB Chairman Duhnke, Seeks to Fill All Board Member Positions The SEC said that William Duhnke was “removed” as chairman of…
FASB News Business Combination Rule Could Change FASB is examining whether to change the rules regarding accounting for business combinations with respect to the subsequent…
FASB News More Tweaks Coming to Credit Loss Accounting Rules? FASB could decide at a future meeting on whether to tweak credit loss accounting rules…
FASB News Congress Presses FASB to Tackle Accounting for Cryptocurrencies A bipartisan congressional group has asked FASB to establish accounting standards for digital assets such…
FASB News Webcast on New Accounting for Gifts-in-Kind Announced Accountants and others that work with charities and other not-for-profit organizations can now register for a…
FASB News Final Accounting Rules Related to Share Option Awards Being Drafted On April 20, the Private Company Council (PCC) tentatively voted to draft final…
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 Roundtable on Credit Loss Accounting Rules Set for May 20 FASB has announced it will host a virtual roundtable next month on the…
FASB News Chief Accountants Caution Against Tinkering with Statement of Cash Flows Finance chiefs at some of the nation’s largest companies told FASB that the…