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…
In Brief The need for accounting standards for government entities has been long recognized, but the road to establishing the right body to set such…
Effective for fiscal years beginning January 1, 2020, a new approach for accounting and reporting leases will be required for state and local governments under…
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…
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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…
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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…
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 News Leases Roundtable Could Avert Private Company Adoption Costs FASB plans to hold a roundtable on April 9 to discuss the implementation experiences of…
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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…
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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…
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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…
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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…
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 FASB Begins Deliberations on Gifts in Kind FASB began discussions on November 6 to develop presentation and disclosure rules for gifts in kind,…
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GASB, FASB, IASB News
GASB News GASB Proposes Reporting Changes to Ease Effects of Rate Reform State and local governments can comment on a GASB proposal that aims 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…
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FASB, AICPA, GASB
FASB News FASB Hints at Future Hedge Accounting Overhaul A recent FASB discussion about hedge accounting rules has raised speculation that the board might consider…
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, GASB News
FASB News Proposal to Include Credit Loss Rules in 2020 GAAP Taxonomy Published On July 10, FASB published a proposed update of its 2020 GAAP…
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FASB, IASB, GASB News
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…
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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…
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IASB, GASB, AICPA News
IASB News IFRS Taxonomy to become Mandatory, EC Says Companies that use international financial reporting standards to prepare their financial statements need to tag them…
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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…
Mastering Fiduciary Activity Reporting For Governments
An Explanation of GASB Statement 84
In Brief GASB recently updated its guidance on the reporting of assets held by governments in a fiduciary capacity. While the clarification on how 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…
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AICPA, GASB, IASB News
AICPA News ASB Publishes New Auditor Reporting Standards On May 8, the AICPA’s Auditing Standards Board (ASB) published a set of standards intended to improve…
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 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…
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FASB, PCAOB, GASB News
FASB News Examination of Complex Liabilities/Equity Accounting to Begin In early 2019, FASB plans to take its first official steps on a significant project to…