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…
FASB News Special Meeting on Board’s Five-Year Agenda The Financial Accounting Standards Advisory Council (FASAC), the FASB’s main advisory body, held a special session on…
FASB News ‘Last-of-Layer’ Hedging Renamed, Expanded Model Proposed FASB said it changed the name “last-of-layer” to the “portfolio layer” hedging method, and will propose expanding…
FASB News Companies Say Proposal on Acquired Revenue Earning Contracts Would Ease Accounting Costs T-Mobile US Inc., Cisco Systems Inc., IBM Corp., Pfizer Inc., and…
FASB News EITF Limits Scope of Proposal on Forwards, Options FASB should limit the scope of an October 2020 proposal to freestanding equity-classified written call…
FASB News Segment Reporting Discussions Continue On March 10, FASB discussed segment reporting issues, work that ultimately could provide investors with more useful disclosures about…
FASB News Agenda Requests from Big Four Rejected FASB voted against adding two projects to its technical agenda, one to clarify rules related to common…
IASB News Advisory Council to Discuss Post-COVID-19 Workplan The IFRS Advisory Council held discussions this week on an on-site workplan for the global accounting rulemaker…
FASB News Taxonomy Guides on Disclosures for Consolidation Rules Proposed On February 16, the FASB staff announced that the public can now weigh in on…
FASB News Early Application Permitted for Simpler Rules on Convertible Instruments On February 9, FASB reminded public companies that simpler, more cost-efficient new accounting rules…
FASB News FASB Adds Three New Members to Nonprofit Advisory Panel FASB announced three new members to its Not-for-Profit Advisory Committee (NAC), the panel that…
FASB News Banking Sector Urges Expanded Proposal on Evaluating Goodwill Triggering Events FASB’s December 2020 proposal to ease accounting for evaluating goodwill triggering events would…
IASB News Rules Related to Accounting Policies, Disclosures Expected Next Month In February, the IASB will modify rules on the disclosure of accounting policies, and…
GASB News Accounting Definition for Compensated Absences to Be Tweaked On January 12, GASB discussed amendments to decades-old rules for reporting vacations, sick leave, paid…
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 Sets Town Halls The Private Company Council (PCC), the body that advises the FASB on private company accounting matters, will…
FASB News Goodwill Triggering Event Evaluation for Private Companies, Nonprofits Proposed FASB issued a proposal to allow private companies and nonprofits to evaluate whether an…
FASB News Banking Industry Has Provided Timely Data on Credit Losses During Current Crisis The banking industry has risen to the occasion to answer investor…
FASB News Proposed Concepts for Presenting Financial Statement Items Finalized On December 9, FASB voted 6 to 1 to finalize its August 2016 proposal on…
FASB News PCC Approves Share Option Proposal, with Clarifications The Private Company Council (PCC) unanimously said the FASB should move forward with an August proposal…
FASB News Trustees to Propose Draft of Strategic Plan Next Year Companies will be able to weigh in next year on a proposed draft of…
FASB News Trustees Approve 2021 Budget Trustees of the Financial Accounting Foundation (FAF), the parent body of the nation’s two main accounting rulemakers, approved its…
FASB News Companies Worry Proposal on Franchise Fees Would Unravel Rules A September 2020 proposal from FASB would compromise revenue accounting rules, introducing industry-specific guidance…
FASB News Investors Urge Movement on Government Assistance Project FASB should move ahead with its work to provide accounting disclosure rules around government assistance companies…
FASB News Codification Updated to Streamline Disclosures, Various Rules FASB has issued an update to the U.S. GAAP codification to streamline the disclosure section and…
FASB News FASB Proposes Clarifications to Accounting for Certain Modifications of Forwards and Options FASB has issued a narrow proposal aimed at clarifying and reducing…