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…
FASB News Debate over Revising Goodwill Accounting Rules Continues On March 2, FASB continued hammering out revisions it aims to propose about the reporting of…
FASB News Trustees Working on Protocols to Reopen to Visitors The nation’s two main accounting rulemaking boards have not yet fully opened their offices to…
FASB News Private Companies Misjudging Effort Needed to Adopt New Lease Accounting Rules Some private companies have misjudged the amount of backwork that FASB’s new…
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 Most Investors Don’t Voluntarily Weigh-in on Key Topics FASB has to go beyond the norm to reach investors for input about accounting topics,…
FASB News FAF Trustees to Meet on February 15 The Financial Accounting Foundation (FAF), the trustee body with oversight responsibility of FASB and GASB, will…
FASB News Level at Which Goodwill is Tested for Impairment Won’t Change On January 26, the FASB voted 4–3 against changing the unit level at…
IASB News Implementation Group to Discuss Whether Crypto Rules Needed for Small-to-Midsized Entities An IASB implementation group that monitors private company reporting rules will discuss…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
PCAOB News Erica Williams Sworn in as Chair Erica Williams was sworn in as chair of the PCAOB on January 10, 2022. The board now…
FASB News Advisers Taking ‘Wait and See’ Posture on Joint Venture Project FASB’s private company advisers will wait until the board completes its proposal on…
FASB News Advisers Want Balanced Financial Performance Reporting Project A FASB project to require more details about a company’s financial performance in the income statement…
FASB News ESG, Crypto, Intangibles, Government Assistance Added to Research Agenda Companies got a hint at what could make it to the FASB’s technical agenda…
FASB News Developing More Rules on Government Incentives Raises Tricky Questions Government grants are often “in the eye of the beholder,” and therefore developing recognition…
FASB News Regulatory Framework Will Determine Next Steps on Digital Assets FASB will be able to comprehensively address the reporting of digital assets once there…
FASB News General ESG Matters Won’t be Added to Core Mission At a recent trustee meeting, FASB Chair Richard Jones signaled that the board does…
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 More Amendments to Credit Loss Accounting Rules and Disclosures Proposed FASB has issued a narrow proposal to remove troubled debt restructuring (TDR) accounting…