FASB News FASB Rejects Request to Delay Credit Loss Rules, Votes to Finalize Changes On September 18, FASB unanimously voted against delaying the effective date…
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FASB, AICPA News
FASB News FASB Issues Proposed Taxonomy Changes to Reflect Reference Rate Reform FASB has proposed changes to the 2020 U.S. GAAP financial reporting taxonomy to…
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FASB News
FASB News FASB Votes to Finalize Proposal Simplifying Income Tax Accounting Rules On September 4, FASB voted unanimously to finalize its proposed rules that would…
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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…
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FASB, AICPA, PCAOB News
FASB News FASB Proposes Historic Change to Effective Dates Philosophy FASB has proposed a change to its philosophy for establishing effective dates for major new…
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IASB, FASB, AICPA News
IASB News Conference to Focus on Future Accounting Rules This year’s World Standard-setters Conference—the meeting of accounting rulemakers from various nations that use IFRS—will hold…
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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IASB News Joint Discussion on Future of Financial Reporting IASB Chairman Hans Hoogervorst and FASB Chairman Russell Golden will participate in a panel discussion, being…
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FASB, AICPA News
FASB News Recognition of Acquired Liabilities in Customer Contracts Moved to Research Agenda On July 31, FASB removed a project from the Emerging Issues Task…
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FASB, PCAOB, AICPA News
FASB News Simplifications to Share-based Payments and Debt Accounting Considered Standards setters plan to tweak narrow areas of the stock compensation and debt accounting guidance,…
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FASB, IASB News
FASB News Colleges, Universities Question Whether to Combine Tuition and Housing Fees Under New Revenue Rules As the not-for-profit sector prepares to adopt new revenue…
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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…
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 Chief Accountants: Proposed Revisions to Income Tax Disclosure Rules Too Costly to Prepare Chief accountants and controllers from some of the nation’s largest…
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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 News Bless: Audit Firms Need Guidance from PCAOB About Credit Loss Standard The PCAOB should provide guidance to audit firms about the new credit…
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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…
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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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, 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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…