FASB Crypto Proposal Coming by End of March amid Slight Sector Rebound from Lows
The FASB on Feb. 1, 2023, said the public will get 75 days to comment on a proposal on accounting …
FASB Plans to Require More Detailed Disclosures of Income Statement Expenses
The Financial Accounting Standards Board (FASB) last week made some significant decisions to provide investors more insight into corporations’ income …
Top 5 Accounting Rules to Hit Companies’ Books This Year, Including Issues to Watch For
Several of the FASB’s significant accounting standards take effect for the first time this year for businesses, including new rules …
Lookback at FASB in 2022: Fewer Rules Issued Than Prior Years
The FASB, the nation’s developer of U.S. GAAP, closed out 2022 having issued six narrow accounting standards, a drop from …
FASB Issues Two-Year Extension on Accounting Rules that Facilitate Shift from LIBOR
The FASB on Dec. 21, 2022, published a two-year extension of temporary accounting relief guidance to continue to ease the …
Present Crypto Assets Separately From Other Intangibles on the Balance Sheet, FASB Says
Companies should be required to present crypto assets separately from other intangible assets on the balance sheet because they have …
Insurance Sector Gets Accounting Relief for Disposed of businesses and Contracts
The FASB on Dec. 15, 2022, published a tweak to its long-term insurance accounting standard to make it easier for …
FASB Proposal Coming Early Next Year to Require Greater Disclosure of Income Taxes Paid in U.S., Overseas
The FASB on Nov. 30, 2022, voted to issue a proposal during next year’s first quarter that would require companies …
FASB Proposes to Clarify Lease Accounting Rules for Subsidiaries Controlled by the Same Parent Company
The FASB on Nov. 30, 2022, proposed what could be the eighth round of changes to lease accounting rules, this …
House Bill Would Subject FASB to New Procedural Requirements, Mandate Chair Testimony
Two House republicans on Nov. 16, 2022, introduced legislation that would subject the FASB to new procedural checks and require …