FASB Votes to Propose New Accounting Rules for Joint Venture Formations
The FASB on Sept. 14, 2022, unanimously voted to issue a proposal that would create new requirements for joint ventures …
SEC Acting Chief Accountant Highlights Financial Reporting Areas to Keep in Mind During Uncertain Economic Times
During a conference, SEC Acting Chief Accountant Paul Munter provided some important reporting areas that banks especially should consider when …
Oil and Gas Companies Will be Most Impacted by Inflation Reduction Act, Moody’s Says
Oil and gas companies will have to pay more taxes under the Inflation Reduction Act of 2022, according to accounting …
New FASB Crypto Accounting Rules Will Tackle Certain Fungible Tokens Deemed ‘Intangible Assets’
A new cryptocurrency accounting and disclosure standard will be scoped narrowly to address a subset of fungible “intangible assets” that …
Negative Impact of Credit Loss Accounting Standard on Buyers’ Earnings Biggest Concern About Rules
The FASB may need to study the credit loss accounting standard for better tailoring in relation to acquisitions because it …
How Long Will it Take to Develop Crypto Accounting Rules? FASB Isn’t the Problem
Speculation has bubbled up about how fast the FASB, the nation’s main accounting rulemaker, can move to issue new accounting …
Regulators Charge Eagle Bancorp, Ex-Chairman over Related-Party Loan Disclosure Failures
The SEC on Aug. 16, 2022, charged Eagle Bancorp, Inc. and its former Chairman and Chief Executive Officer Ronald Paul …
Inflation Reduction Act Inches Into FASB Waters Over Book Income Tax
The FASB, the nation’s main accounting rulemaker, could have congressional lobbyists nipping at its heels over a minimum tax rule …
U.S. Income Statement Accounting Rules Could Change to Require Specifics About Labor Costs
The FASB is studying a plan that could require companies to break out more information in income statements about labor …
U.S. Accounting Rulemaker’s Improvement to Supplier Finance Program Disclosure Rule is Credit Positive, Moody’s Says
The U.S. accounting standard-setter’s recent decision to make changes to the disclosure of supplier finance program obligations, also known as …