FASB Publishes Year Delay on Leases, Revenue Accounting Standards
By Denise Lugo The FASB on June 3, 2020, published a new accounting standard that grants a one-year delay on …
FASB to Publish Delays on Revenue, Lease Accounting for Private Companies Early June
By Denise Lugo The FASB on May 20, 2020, voted to extend a proposed year delay for revenue rules beyond …
Banks, Other Large Public Companies Already Adopted Credit Loss Rules, FASB Chairman Says
By Denise Lugo FASB Chairman Russell Golden told the board’s trustees that a majority of large public companies, including banks, …
Accounting Firms Confused on Whether Some Nonprofit Conduit Debt Obligors Qualify for FASB’s Leases Deferral
By Denise Lugo Big Four and other accounting firms asked the FASB to clarify whether nonprofits that file interim financial …
FASB Mum on Rulemaking about CARES Act Deferral for Credit Loss Accounting Rules
By Denise Lugo After Congress gave big banks a deferral on the FASB’s credit loss rules as part of its …
FASB Publishes Staff Document to Clarify Cash Flow Hedge Accounting Rules
By Denise Lugo The FASB on April 28, 2020, published a staff question-and-answer (Q&A) document to clarify the effects of …
House Bill Would Extend CECL Delay in CARES Act
By Bill Flook A House Democrat on April 17, 2020, introduced a measure to extend the length of an optional …
FASB Proposal Related to Equity-Classified Share Options Delayed Until Crisis Abates
By Denise Lugo A FASB proposal that would leverage Internal Revenue Code Section 409A valuation procedures for finding the current …
Was Congress Right to Delay New Credit Loss Accounting Rule Implementation Amid Pandemic?
By Soyoung Ho The CARES Act gave big banks the option to delay the adoption of the U.S. accounting standard-setter’s …
FASB to Defer Rules on Revenue for Franchisors, Lease Accounting
By Denise Lugo The FASB on April 8, 2020, voted to propose one-year deferrals on revenue recognition and lease accounting …