FASB News Most Private Companies Have Not Adopted New Revenue Rules, Are Unlikely to Adopt Lease Rules on Time A majority of private companies have…
CPAJ News Briefs
FASB, AICPA News
FASB News Bless: Audit Firms Need Guidance from PCAOB About Credit Loss Standard The PCAOB should provide guidance to audit firms about the new credit…
CPAJ News Briefs
FASB, GASB, PCAOB News
FASB News Three New Members Appointed to EITF FASB has added three new members to its Emerging Issues Task Force (EITF). The board said on…
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, PCAOB, SEC News
FASB News CPAs, Companies Pushing for Accounting and Disclosure Rules for Cryptocurrencies U.S. GAAP does not have specific guidance on how to account for and…
CPAJ News Briefs
FASB, GASB News
FASB News U.S. Chamber of Commerce Asks for Revision of Implementation Process The U.S. Chamber of Commerce has asked FASB to follow a process that…
CPAJ News Briefs
FASB, AICPA News
FASB News Private Companies, Nonprofits to Get Update on Major New Accounting Rules FASB will hold a webcast on June 17 for private companies and…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Over the years, there has been much confusion about whether to treat certain types of transactions as contributions or as exchanges, especially when they involve…
CPAJ News Briefs
FASB, IASB News
FASB News FASB Tries to Align with IFRS when Possible, Golden Says According to Chairman Russell Golden, FASB has endeavored—when possible—to align U.S. GAAP with…
The Reporting Impact of ASU 2016-14
Painting the Picture from a Nonprofit’s Financial Perspective
In Brief The nonprofit landscape has changed significantly over the past 26 years, expanding in size and scope while facing new challenges and keeping up…
CPAJ News Briefs
FASB News
FASB News Financial Accounting Foundation President and CEO Polley Resigns On April 26, Teresa Polley, president and CEO of the Financial Accounting Foundation (FAF), resigned…
In Brief Not-for-profit organizations receive financial donations as a matter of course, but the accounting for that revenue depends on whether the transaction is classified…
CPAJ News Briefs
FASB, IASB News
FASB News Noski Reappointed Chairman of Financial Accounting Foundation Former senior banking executive Charles Noski has been reappointed to an additional term as chairman of…
CPAJ News Briefs
FASB, IASB News
FASB News FASB Approves Simpler Option for Reporting Some Intangible Assets of Nonprofit Hospitals As mergers and acquisitions (M&A) surge in the healthcare sector, not-for-profit…
ICYMI | Overcoming Disclosure Overload and Achieving Greater Disclosure Effectiveness
A Status Report
Although still in the proposal stage, there has been substantial movement by both FASB and the SEC on major issues discussed by this author in…
CPAJ News Briefs
FASB, SEC, PCAOB News
FASB News Income Tax Accounting Rules May Be Simplified FASB may simplify income tax accounting rules—one of the more complex topics in financial reporting—in targeted…
CPAJ News Briefs
FASB, IASB, PCAOB News
FASB News Search Underway for New FASB and GASB Chairs The Financial Accounting Foundation (FAF) said it has launched a search to replace FASB Chairman…
CPAJ News Briefs
FASB News
Revised Proposal on Income Tax Disclosure Rules Issued On March 25, FASB issued a revised proposal to amend the disclosure rules under income tax accounting…
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, PCAOB News
FASB News FASB Weighs Linkage of Debt Arrangements At its March 20 meeting, FASB continued to discuss its proposal to simplify the classification of debt…
CPAJ News Briefs
FASB, Audit Practice News
FASB News SEC Disclosure Rules to Be Pulled Into GAAP As part of a broader effort to simplify compliance without significantly altering the total mix…
CPAJ News Briefs
FASB, GASB News
FASB News Proposal Would Clarify Accounting Rules for Share-Based Payments to Customers On March 4, FASB published a proposal to reduce confusion related to how…
As implementation of FASB's new current expected credit loss (CECL) model begins across institutions of all sizes, one of the questions executive management should be…
CPAJ News Briefs
FASB, AICPA, SEC News
FASB News Garnett, Burnap, Hamel Named to Advisory Panels On February 25, FASB and its parent organization, the Financial Accounting Foundation (FAF), announced appointments to…
CPAJ News Briefs
FASB, PCAOB News
FASB News Board Backs Staff’s Convertible Instrument Disclosure Improvements FASB has backed a series of improvements to convertible instrument disclosures, including the format in which…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
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, IASB, PCAOB News
FASB News Proposal Would Offer Transition Relief for Credit Losses Standard On February 6, FASB issued a proposal intended to offer transition relief to businesses…
CPAJ News Briefs
FASB, IASB, AICPA News
FASB News Examination of Complex Liabilities, Equity Accounting to Begin At its February 13 board meeting, FASB plans to take action on a significant project…