FASB Proposes Clarifications to Accounting for Certain Modifications of Forwards and Options
By Soyoung Ho The FASB on October 26, 2020, issued a narrow proposal aimed at clarifying and reducing diversity in …
FASB Proposes to Revise Lease Accounting Rules in Three Areas
By Denise Lugo As expected, the FASB on October 20, 2020, issued a proposal that would amend lease accounting rules …
FASB Votes to Finalize Proposed Year Delay on Life Insurance and Annuities Accounting Rules
By Denise Lugo The FASB on September 30, 2020, voted 6 to 1 to finalize a July proposal to delay …
FASB Proposes Alternative to Simplify Reporting of Initial Franchise Fees
By Denise Lugo The FASB on September 21, 2020, issued a proposal that would give privately owned franchisors an accounting …
Nonprofit Sector Gets New Presentation and Disclosure Rules for Reporting Gifts-in-Kind Donations
By Denise Lugo The FASB on September 17, 2020, issued an accounting standard that will provide clearer financial information about …
Tech Startups, Others Getting Consistency in Reporting Equity-Classified Warrants, Similar Instruments
By Denise Lugo Early-staged companies should get a consistent way to report modifications to all freestanding equity-classified derivative instruments, an …
FASB Plans to Stick with Status Quo on Quarterly Disclosure Rules
By Denise Lugo Companies will not see much change in quarterly disclosure rule requirements from what they provide currently but …
Lawyers Advising Companies About Idle Leases Better Check with Accountants First
By Denise Lugo Companies seeking to renegotiate or end equipment or real estate lease terms over lack of use will …
Big Insurers Jump to Rally Around FASB’s Proposed Delay of Life Insurance Accounting Rules
By Denise Lugo Some of the nation’s biggest life insurance companies have thrown their full support behind a FASB proposal …
FASB Agrees to Propose More Amendments to Lease Accounting Rules
By Denise Lugo The FASB on July 29, 2020, voted to issue a proposal in September that amends lease accounting …