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 …
Companies Already Have Implementation Questions on SEC’s New Pay vs. Performance Rule
The Securities and Exchange Commission’s Division of Corporation Finance (CorpFin) staff has already been getting implementation inquiries about the commission’s …
FASB to Become More Diverse with New Board Appointment, Plus New Trustee Chair Named
The Financial Accounting Foundation (FAF) on Nov. 15, 2022, said Joyce Joseph was appointed to the FASB to succeed current …
Don’t Drop Efforts on Accounting Rules for Government Grants, Small Public Filers tell FASB
The FASB’s current research on accounting for government grants should be advanced to its rulemaking agenda – and as a …
Staff Accounting Bulletin on Crypto Safeguarding Obligations is Not SEC Rule, Senior Official Says
During a financial reporting conference, the SEC’s top accounting official emphasized that Staff Accounting Bulletin (SAB) No. 121 related to safeguarding obligations …
FASB Chair: Crypto Accounting Proposal Coming in First Half of 2023
A FASB proposal on the accounting for cryptocurrencies will be issued during the first half of next year to solicit …