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 …
FASB’s Private Company Council Sets Town Halls for April, June
The Private Company Council (PCC), the body that advises the FASB on private company accounting matters, will hold Town Halls …
FASB Votes to Issue Proposal With Narrow Revisions to Interim Disclosure Rules
By Denise Lugo The FASB on December 16, 2020, unanimously voted to issue a proposal next year to revise interim …
FASB to Reintroduce Amortization of Goodwill for Public Companies
By Denise Lugo The FASB on December 16, 2020, tentatively said it would require public companies to amortize goodwill over …
FASB to Issue Consultation Document Next Year on Technical Agenda Priorities
By Denise Lugo The FASB plans to issue a consultation document mid-next year to obtain public feedback about priority areas …
FASB to Consider Amending Credit Loss Rules in Four Targeted Areas
By Denise Lugo The FASB will consider revising its current expected credit loss (CECL) standard in four areas, including amending …
Big Banks Didn’t See Benefit of Deferring Adoption of Credit Loss Accounting Rules
By Denise Lugo The nation’s largest banks adopted the FASB’s current expected credit loss (CECL) standard this year, as opposed …
No Conceptual Basis for Other Comprehensive Income, FASB Says
By Denise Lugo The FASB on November 11, 2020, affirmed there is no conceptual basis for other comprehensive income (OCI), …
FASB to Require Chief Decision-Maker View for Disclosing Segment Expense
By Denise Lugo The FASB’s project to revise disclosure rules for operating segments of a company continues to be of …
FASB Chair Stresses Importance of Making a Case for Change Prior to Tinkering with Rules
By Denise Lugo FASB Chairman Richard Jones on November 4, 2020, signaled the board would focus on first making a …