FASB to Whittle Through Agenda ‘Fairly Quickly’ and Issue Consult Document Again Next Year, Chair Says
The FASB plans to complete most of the projects on its technical agenda in the next 18 months and may …
Private Companies Getting a Pass from Coming FASB Proposal on Disclosure of Income Statement Expenses
Private companies should be exempted from the FASB’s coming proposal that aims to ratchet up disclosure rules for income statement …
Fed Up with Lease Accounting Rules, Some Private Companies Turn to Tax Basis to File Statements
Some privately held companies are fed up and “exhausted” over adopting big new accounting standards, especially leases, and now have …
Issues will Bubble Up to FASB from Financial Data Transparency Act’s Impact on Companies
The Financial Data Transparency Act (FDTA) will impact corporate SEC Registrants’ digital reporting and therefore that law should be kept …
CFOs in all Industries can Learn from Bank Collapses, Institute of Management Accountants Says
It will take more time to get a full explanation behind the recent collapse SiliconValley Bank (SVB). But there is …
Coming FASB Proposal on Disclosures for Annual and Quarterly Expenses Will be Costly to Apply
The FASB on March 29, 2023, unanimously voted to issue a proposal that will add new disclosure requirements for reporting …
Newly Issued FASB Accounting Rule Offers Simpler Way to Report Federal and State Tax Credit Investments
An accounting rule that was specifically developed for reporting low-income housing tax credit (LIHTC) investments has been expanded to include …
New FASB Accounting Rules Issued for Leases Between Related Businesses with a Common Owner
As expected, the FASB on March 27, 2023, published narrowly drawn amendments to lease accounting rules that clarify issues that …
FASB Proposes Accounting Rules for Measuring, Presenting and Disclosing Crypto Assets
The FASB on March 23, 2023, issued a proposal to provide accounting and disclosure rules for certain types of crypto …
Consider Developing a Standard Definition of EBITDA for U.S. GAAP, FASB Advisers Say
Senior accountants said the FASB should consider standardizing the definition of EBITDA, the acronym for Earnings Before Interest, Taxes, Depreciation, …