FASB News Roundtable Raises Question on Whether to Redefine Leases An FASB lease accounting roundtable discussion on September 18 raised the surprising question of whether…
FASB News Consultation Document on Internationally Applicable Rules for Nonprofits to be Published A collaborative effort of various accounting groups worldwide will generate a consultation…
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 Online Forum for CPE Providers Scheduled FASB will hold an online forum on October 12 that is designed to help companies and professionals…
FASB News Proposed GAAP Codification Amendments Split Up FASB will continue to split up a November 2019 proposal aimed at improving the Accounting Standards Codification…
FASB News Twenty Projects on Technical Agenda to Be Reconsidered FASB plans to determine whether it still wants to pursue 20 of the projects on…
FASB News Post Implementation Review Portal Launched Under New Process FASB launched a Post-Implementation Review (PIR) web portal that showcases its efforts to evaluate whether…
FASB News Accounting Principle for Identifying Benchmark Interest Rates Expected An accounting principle to aid banks and other corporations in identifying permissible benchmark interest rates…
FASB News Simpler Rules Issued for Convertible Instruments, Own Equity On August 5, FASB issued new rules to simplify the accounting for convertible instruments and…
FASB News No New Definition for Joint Ventures A majority of the FASB said it was best not to revise the definition for joint ventures—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 Accounting Rules for Franchise Fees Discussed FASB discussed whether to add a project to its technical agenda that would provide an accounting alternative…
FASB News New Chairman Signals Focus on Maintaining, Improving Existing Rules In an effort to glean insight that would aid in understating the financial reporting…
IASB News IFRS Foundation to Hold Annual Conference Virtually The IFRS Foundation said it would combine two major annual conferences into one event and hold…
FASB News PCCC Mulling Whether to Carve Out Rules on Profits Interest Compensation The Private Company Council (PCC) said it would wait for more FASB…
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 Private Company Council to Discuss Profits Interest Compensation FASB’s advisory body, the Private Company Council, plans at its June 25 meeting to take…
FASB News Nonprofits to Get New Rules for Gifts in Kind Donations On June 10, FASB voted to publish new rules later this year that…
GASB News Clarified Rules for Reporting Cloud Computing, Subscription-Based IT Arrangements GASB issued new accounting rules on June 5 to clarify how to report cloud…
FASB News FAF Allocates $11.6 Million to Modernize Technology, Systems The Financial Accounting Foundation (FAF) said its work 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 Webinar on Big Three, Covid-19 Issues for Private Companies and Nonprofits FASB said it plans to hold a webinar on June 15 dedicated…
FASB News Golden Outlines Board’s Standards Setting Plans Prior to Departure FASB Chairman Russell Golden said the board will determine whether to finalize a proposal…
FASB News National Defense Group Urges FASB to Extend Delay on Revenue Accounting Rules The defense sector has asked FASB to extend a proposed delay…
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 Private Companies Seeking Clarity around Coronavirus-Related Disclosure Requirements Private companies are seeking FASB or AICPA interpretative guidelines on the appropriate level of disclosures…
FASB News Staff Document to Ease Hurdles on Accounting for Lease Concessions On April 10, FASB published a staff document that addresses four questions companies…
CPAJ News Briefs
FASB, GASB, PCAOB News
FASB News Healthcare Accountants: Coronavirus Came at Pivotal Reporting Period The coronavirus (COVID-19) pandemic coincided with the most significant reporting and tax season of the…
CPAJ News Briefs
FASB, GASB, PCAOB News
FASB News Goodwill Impairments Expected to Spike in 2020 Companies will likely report more goodwill impairments than they might have planned for the first quarter…
CPAJ News Briefs
IRS, FASB, AICPA News
IRS News IRS Issues Official Guidance on Filing and Payment Deadline Postponements In Notice 2020-18, the IRS has made official the earlier announcement by Treasury…