Companies Say FASB Proposal on Acquired Revenue Earning Contracts Would Ease Accounting Costs
T-Mobile US Inc., Cisco Systems Inc., IBM Corp., Pfizer Inc., and others said a FASB December 2020 proposal would simplify …
Accounting Rules for Software Development Out of Step with Innovation, FASB Task Force Members Say
The FASB should consider adding a project to its technical agenda related to software development because current accounting rules have …
Accounting Rulemakers Aiming to Keep Segment Expense Disclosure Rules Robust
Analysts and other financial statement users will likely get the level of detail they have clamored for related to segment …
FASB Rejects Two Agenda Request from Big Four Accounting Firms, Citing Lack of Pervasiveness
The FASB on March 3, 2021, voted against adding projects to its technical agenda to clarify rules related to common …
Companies Might be Confused About Conceptual Framework, Rulemakers Say
Some accounting practitioners might be confused about what the FASB’s conceptual framework is actually used for, according to February 17, …
Proposal on Goodwill Triggering Events Will Be Finalized With Broader Scope, Accounting Rulemaker Says
The FASB on February 10, 2021, voted 6 to 1 to finalize its December 2020 proposal on private companies’ assessment …
FASB Hammers out Research Angles for Distinguishing Liabilities from Equity
Cash-strapped companies that issue complex financial instruments to raise funds will be able to more easily evaluate how to report …
FASB Simplifies Private Company Accounting Rules for Franchise Fees
By Denise Lugo The FASB on January 28, 2021, published an accounting workaround to give privately-owned franchisors a simpler way …
Rep. Sherman to Remain Chair of Key House Financial Services Subcommittee
Rep. Brad Sherman, a California Democrat, will maintain his role as chairman of the House Financial Services Committee’s influential Subcommittee …
FASB Advances on Mechanics of Principle for Segment Expense Disclosures
By Denise Lugo The FASB on January 20, 2021, advanced discussions to operationalize the disclosure principle it decided to develop …