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…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
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IRS, FASB, IASB News
IRS News IRS Creates Coronavirus Website The IRS has created a new website, http://www.irs.gov/coronavirus, that it says is “focused on steps to help taxpayers, businesses,…
CPAJ News Briefs
FASB, IASB, GASB News
FASB News Leases Roundtable Could Avert Private Company Adoption Costs FASB plans to hold a roundtable on April 9 to discuss the implementation experiences of…
CPAJ News Briefs
FASB, IASB News
FASB News FAF Appoints New Executive Director John Auchincloss, acting president of the Financial Accounting Foundation (FAF), the parent organization of FASB, has been appointed…
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PCAOB, FASB, GASB News
PCAOB News SEC, PCAOB Discuss Coronavirus Impact with Big Four Audit Firms During discussions over the past two weeks with Big Four audit firms, SEC…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
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FASB, IASB News
FASB News Golden Outlines Process for Setting Rulemaking Agenda FASB’s process for putting a topic on its standards-setting agenda is one that entails making tough…
CPAJ News Briefs
FASB, GASB News
FASB News FASB Updates Codification to Incorporate SEC Staff Views on Credit Loss Rules, Leases Deferral FASB has issued a new accounting standard that updates…
CPAJ News Briefs
FASB, PCAOB, IASB News
FASB News Firms Ask FASB to Clarify Accounting Rules for Sale and Leaseback Transactions Six accounting firms, including the Big Four, have asked FASB to…
CPAJ News Briefs
FASB, IASB, AICPA News
FASB News FASB to Propose Conceptual Framework Amendments in June The U.S. accounting standards setter plans to issue a proposal early June that revises the…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
CPAJ News Briefs
FASB, GASB, IASB News
FASB News New Rules Issued to Clarify Interaction of Equity Investment Accounting Rules FASB has issued narrow provisions to help accountants understand the interaction of…
CPAJ News Briefs
FASB, GASB, IASB News
FASB News Electric Sector Says Lease Accounting Rule Causing Losses to Profitable Contracts The Edison Electric Institute (EEI), a group that represents U.S. investor-owned electric…
CPAJ News Briefs
FASB, AICPA News
FASB News House Financial Services Subcommittee Schedules Oversight Hearing The House Financial Services Committee’s Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets has scheduled a…