Banks Hesitant to Shift from LIBOR, Dawdling Over FASB Rate Reform Rules
Banks and other financial institutions are still hesitant over transitioning old existing contracts away from the London Interbank Offered Rate …
‘Skyrocketing Corporate Debt Figures’ Not Creating a Clamor for Simpler Classification Accounting Rules on the Topic
With net debt reaching about $3,832 billion for U.S. companies over the past year—46 percent of the total corporate debt …
Chair Jones: FASB Will Discuss Feedback on its Agenda Consultation Document Late 2021, Early 2022
The FASB will discuss public feedback received from its agenda consultation document later this year through early next year, a …
Private Company Council Adds Munich Re’s Surety Head, Reappoints Chair
The Financial Accounting Foundation (FAF) on August 24, 2021, said Candace Wright was reappointed to a third term as chair …
Private Company Accounting Rules Coming in Q4 Related to Equity-Classified Share-Based Awards
The FASB on August 4, 2021, unanimously voted to issue a narrow accounting workaround related to pricing equity-classified share option …
Solar, Wind Farms Lauding New Accounting Rule for Certain Leases with Variable Payments
New FASB rules for reporting certain types of leases with variable payments has generated “extremely positive” response from solar and …
Two Former Chairman Dispute Claims that FASB Does Not Have Enough Investor Representation
Two former FASB chairmen in recent interviews pushed back against claims by some investor and reform groups that the accounting …
New FASB Rules Coming in Fourth Quarter on Revenue Contracts Acquired in Business Combinations
The FASB on July 28, 2021, voted 5 to 1 to finalize a proposal that would clarify the accounting for …
FASB Amends Lease Accounting Rules for Sales-Type Leases with Variable Payments
The FASB on July 19, 2021, issued an accounting rule that requires certain sales and direct financing leases with payments …
Revisions to Credit Loss Accounting Rules Coming for TDRs, Loans Acquired in Business Combinations
The FASB on July 14, 2021, added projects to its technical agenda to eliminate the accounting for troubled debt restructuring …