Big Banks Tout Flexibility of Credit Loss Rules But Investors Hate the Resulting Volatility
Large banks found the FASB’s credit loss accounting rules sufficiently flexible to adopt amid the COVID-19 pandemic last year, but …
Rep. Brad Sherman on FASB, GameStop, Archegos, and China
As chairman of the Investor Protection, Entrepreneurship and Capital Markets Subcommittee of the House Financial Services Committee, Rep. Brad Sherman …
FASB Staff Will Study SPACs in Relation to Profits Interest Compensation
FASB staff will research whether special purpose acquisition companies (SPACs) are generating issues that would fall within the range of …
Group Tells SEC Chair Gensler that Accounting Standard-Setter is Ignoring Investor Views
A group of investment analysts who are well-versed in accounting renewed its call on the need to make changes at …
A Conversation with SASB Member Daniel Goelzer
The following is an April 8, 2021, telephone conversation with Daniel Goelzer, a standard-setting member of the Sustainability Accounting Standards …
U.S. Accounting Rulemaker Drops Project to Simplify Debt Classification Rules
The FASB voted 5 to 2 to drop a seven-year old project aimed at simplifying the accounting guidance for classifying …
FASB Faces Conundrum Over ESG Reporting Issues
The FASB would need precise suggestions from the accounting profession on environment, social, and governance (ESG) matters to consider taking …
‘Squishy’ Intangible Asset ‘Goodwill’ Needs More Research, FASB Signals
The FASB did not make any definitive decisions on April 7, 2021, about the subsequent accounting of goodwill, an acquired …
House Subcommittee Brings Back Long-Delayed LIBOR Hearing
A House Financial Services subcommittee will finally get to its hearing on the transition away from the London Interbank Offered …
Private Companies, Nonprofits Get New Accounting Rules to Ease Goodwill Triggering Event Assessment
The FASB on March 30, 2021, issued a narrow accounting alternative that enables private companies and not-for-profit organizations to avoid …