FASB Faces Conundrum Over ESG Reporting Issues
The FASB would need precise suggestions from the accounting profession on environment, social, and governance (ESG) matters to consider taking …
‘Squishy’ Intangible Asset ‘Goodwill’ Needs More Research, FASB Signals
The FASB did not make any definitive decisions on April 7, 2021, about the subsequent accounting of goodwill, an acquired …
House Subcommittee Brings Back Long-Delayed LIBOR Hearing
A House Financial Services subcommittee will finally get to its hearing on the transition away from the London Interbank Offered …
Private Companies, Nonprofits Get New Accounting Rules to Ease Goodwill Triggering Event Assessment
The FASB on March 30, 2021, issued a narrow accounting alternative that enables private companies and not-for-profit organizations to avoid …
Companies Say FASB Proposal on Acquired Revenue Earning Contracts Would Ease Accounting Costs
T-Mobile US Inc., Cisco Systems Inc., IBM Corp., Pfizer Inc., and others said a FASB December 2020 proposal would simplify …
Accounting Rules for Software Development Out of Step with Innovation, FASB Task Force Members Say
The FASB should consider adding a project to its technical agenda related to software development because current accounting rules have …
Accounting Rulemakers Aiming to Keep Segment Expense Disclosure Rules Robust
Analysts and other financial statement users will likely get the level of detail they have clamored for related to segment …
FASB Rejects Two Agenda Request from Big Four Accounting Firms, Citing Lack of Pervasiveness
The FASB on March 3, 2021, voted against adding projects to its technical agenda to clarify rules related to common …
Companies Might be Confused About Conceptual Framework, Rulemakers Say
Some accounting practitioners might be confused about what the FASB’s conceptual framework is actually used for, according to February 17, …
Proposal on Goodwill Triggering Events Will Be Finalized With Broader Scope, Accounting Rulemaker Says
The FASB on February 10, 2021, voted 6 to 1 to finalize its December 2020 proposal on private companies’ assessment …