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 …
No Deferral of Credit Loss Accounting Rules for ‘Nonpublic Entities, ‘FASB Says
The FASB by 5 to 2 voted against deferring the effective date of credit loss accounting rules for nonpublic entities …
Level at Which Goodwill is Tested for Impairment Won’t Change, FASB Signals
The FASB on January 26, 2022, tentatively voted 4 to 3 against changing the unit level at which goodwill should …
Top 5 Issues to Master to Adopt FASB Lease Accounting Rules This Year
Private companies, the largest business demographic in the U.S., have to adopt the FASB’s new lease accounting standard starting this …
FASB Proposes New Disclosures for Buyers in Supplier Finance Programs
Buyers that use supplier finance programs to pay for goods or services will need to cough up new details about …
FASB Votes to Propose Two-Year Extension on Accounting Relief for LIBOR Removal
Temporary accounting relief guidance set to end next year to facilitate the removal of LIBOR will be extended two more …
FASB Decisions on Segment Expense Disclosures Move to External Reviewers
The FASB on December 8, 2021, wrapped up the bulk of its discussions about what companies would be required to …
FASB Proposes More Amendments to Credit Loss Accounting Rules and Disclosures
The FASB on November 23, 2021, issued a narrow proposal to remove troubled debt restructuring (TDR) accounting rules from the …