FASB Mulling Whether to Require Disclosure of Taxes Paid by Top Jurisdictions
The FASB on May 11, 2022, said it would research whether to require companies to disclose the top jurisdictions in …
Accounting Rules Will be Developed for Crypto Assets, FASB Says
The FASB on May 11, 2022, unanimously voted to add a project to its technical agenda to develop recognition, measurement, …
Not Always Necessary to Buy Software to Adopt Lease Accounting Rules, FASB Panel Signals
Not all companies need lease accounting software or vendor assistance to adopt the lease accounting standard because straightforward contracts can …
No Easy Way to Revise Presentation Rules for Amortized Goodwill, Rulemakers Signal
The FASB on May 4, 2022, was split down the middle in tough discussions about how to present goodwill in …
Too Early to Pinpoint Accounting Issues on ESG for Private Companies, Panel Says
It is still too early to address Environmental, Social, and Governance (ESG) accounting issues for private companies as no prevalent …
FASB Staff Seeking Public Feedback on Three Proposed Taxonomy Implementation Guides
FASB staff is seeking public comment about three proposed taxonomy implementation guides that model accounting changes, Chapter 11 reorganizations, and …
Investor Disinterest Push FASB to Drop Project on Distinguishing Liabilities from Equity
The FASB on April 13, 2022, voted 5 to 2 to drop the second phase of its project to simplify …
Investors Applaud SEC Stance on Accounting Treatment of Customers’ Cryptos as Commissioner Peirce Criticizes It
A group of investors wants the SEC not to be deterred by strong pushback from the crypto industry against the …
FASB Eliminates Troubled Debt Accounting Rule With Limits, Enhances Loan Disclosures
The FASB on March 31, 2022, published an amendment to credit loss accounting rules to enhance the usefulness of vintage …
Roll Out Affordable Housing Accounting Rule Conditionally to All Tax Credit Investments, Task Force Says
The FASB should extend the accounting rule used for low-income housing tax credit (LIHTC) investments to all federal and state …