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 …
SEC Should Require Public Tax Reporting by U.S. Multinationals, Advocacy Group Says
The SEC should use its regulatory power to require that large U.S. multinational companies publicly disclose data they already collect …
New Accounting Disclosure Rules for Supplier Finance Programs Will Take Effect Next Year
Companies that use supplier finance programs to buy goods and services will need to start disclosing the key terms of …
Will FASB’s Incomplete Conceptual Framework Derail its Efforts on Crypto, Other New Projects?
Critical decisions the FASB makes that can ultimately move markets start with the Conceptual Framework, a set of theoretical guidelines …
FASB Issues Narrow Accounting Rule on Measuring Equity Shares
U.S. rulemakers issued a narrow accounting rule to clarify how to measure equity securities that are subject to a contractual …
FASB Eyeing International Rules to Revise the Definition of a Derivative
The FASB on June 29, 2022, signaled a strong interest in making changes to the definition of a derivative, including …
‘Intangibles’ too Broad to Tackle Holistically, Targeted Disclosures Possible, FASB Signals
The FASB will not pursue adding a holistic project to its technical agenda on intangibles, finding the topic delves into …
Citing No Case for Change, FASB Drops Project to Fix Acquisition Accounting Rules
The FASB on June 15, 2022, unanimously voted to drop its project aimed at improving the accounting for asset acquisitions …