FASB Will Finalize Narrow Proposal Related to Contractual Sale Restrictions on Equity Shares
The FASB on March 23, 2022, voted 4 to 3 to finalize a proposal that clarifies the rules for measuring …
Exclusive Interview With FASB Chair Richard Jones: Includes Insights on Path for Cryptocurrencies, ESG
FASB Chair Richard Jones told Thomson Reuters in a March 2022 interview that the Federal Reserve’s proposed U.S. central bank digital currency …
Chalk Up All Inseparable Customer Relationships as Goodwill, FASB Says
The FASB on March 2, 2022, tentatively voted by 5 to 2 to require public companies to subsume all customer …
Casey Vacating Chair Seat at Financial Accounting Foundation Year-End
A search is underway to replace Kathleen Casey as chair of the Financial Accounting Foundation (FAF) when she leaves that …
FASB ‘Invitation-to-Comment’ Coming in Second Quarter on Government Assistance to Companies
Companies will likely get to weigh in during this year’s second quarter on whether the FASB should merge international accounting …
In an Unusual Move, SEC’s Acting Chief Accountant Suggests Standard-Setting Priorities for Accounting Board
In an unusual move, Paul Munter, the SEC’s acting chief accountant, in a public statement emphasized the importance of investor views …
FASB Sticks With Efforts to Revise the Income Statement, Signals Added Costs for Companies
The FASB on February 16, 2022, voted to reframe its project to revise the income statement, sticking with the objective …
Private Companies Misjudging Level of Effort Needed to Adopt New lease Accounting Rules
Some private companies have misjudged the amount of backwork the FASB’s lease accounting standard requires and could run into adoption …
FASB to Issue Flexible Hedge Accounting Technique Mid-April
U.S. accounting rulemakers plan to issue a flexible hedge accounting rule called the portfolio-layer-method mid-April, according to a source. The …
Rolling Stones Verse in Tow, FASB Affirms Two Proposals to Amend Credit Loss Rules
The FASB on February 2, 2022, affirmed its recent proposals to enhance the usefulness of vintage disclosures and to eliminate …