FASB Unveils Ambitious Agenda for Second Half of Year
The FASB has outlined a packed agenda for the second half of the year, with plans to issue two new …
Private Company Council Tackles Accounting Complexity with Four Key Projects
The Private Company Council (PCC), a body that advises the Financial Accounting Standards Board, has identified four key areas where …
Government Grants Accounting to Get New Rules, Establishing Reporting Guidelines for Businesses
he FASB voted on June 4, 2024, to issue a proposal that aims to standardize and clarify the accounting practices …
Disclosure Rules for Income Statement Expenses Might Come Late Summer, FASB Chair Says
Disclosure rules that will reveal certain types of expenses that analysts say are too obscure in income statements might be …
Should the Definition of a Public Business Entity be Revised? FASB Mulling Topic
The FASB may be interested in revising the definition of a public business entity (PBE), according to board discussions on …
Firms Starting to Field Questions on New Crypto Accounting Rules, Panel Says
Questions have started to trickle in to firms about new FASB accounting rules for crypto assets, and the pace is …
In ‘Dear Stakeholders’ Alert, FASB Trustees Urge Firms to Opine on Private Company Council
The FASB’s trustees are pressing for firms to submit comments about the effectiveness of the Private Company Council (PCC), the …
Debt Accounting Rules Flagged as Still too Complex for Private Companies
Private companies still find the accounting rules for debt modifications and extinguishments tough to understand, even with educational material the …
Plan to Amend Stock Compensation Disclosure Rules for Private Companies Scrapped After 2 Years of Study
The FASB’s main advisers for private companies decided not to amend stock compensation disclosure rules, voting 8 to 3 to …
Nonprofits Should Disclose Risks of Big Donor Withdrawals Over Emerging Events, Panel Signals
Not-for-profit organizations should make sure they are providing good disclosures around the risk of big donors withdrawing contributions over “events …