FASB to Propose Amendments in June to Concepts that Guide Creation of GAAP
By Denise Lugo U.S. accounting rulemakers plan to issue a proposal early June that revises the concepts for elements of …
Investor Group Chides FASB for Anchoring Goodwill Debate on Private Company Rules
By Denise Lugo A FASB July 2019 discussion paper on whether and how to change goodwill accounting rules for public …
Golden, Lawmakers Spar Over CECL Implementation
By Bill Flook FASB Chairman Russell Golden on January 15, 2020, sparred with lawmakers on a House Financial Services subcommittee …
Insurance Sector Presses FASB for Another Narrow Reporting Date Change
By Denise Lugo The insurance sector wants the FASB to grant special flexible accommodations to large reinsurers so they can …
FASB to Begin Discussions Early Next Year on Rules for Contributions of Nonmonetary Assets in Joint Ventures
By Denise Lugo The FASB will decide during the first quarter of next year what new guidelines companies should follow …
Ernst & Young Chief Accountant Richard Jones Appointed New FASB Chairman
By Denise Lugo The Financial Accounting Foundation (FAF) on December 19, 2019, said Richard Jones, chief accountant and partner at …
Rep. Sherman, as Capital Markets Chair, Will Increase Accounting Focus
By Bill Flook Rep. Brad Sherman, the new chairman of the House Financial Services Committee’s Capital Markets subcommittee, said he …
Liabilities and Equity, LIBOR, Companies’ Implementation Efforts top FASB’S for First Half of 2020
By Denise Lugo FASB Chairman Russell Golden said the board plans to wrap up work on most major standard-setting projects …
FASB Tweaks Credit Loss Rules to Smooth Implementation Hurdles
By Denise Lugo The FASB on November 26, 2019, issued narrowly drawn amendments to clarify five issues accountants flagged under …
Subset of Companies Get Deferral on New FASB Rules for Credit Losses, Hedging, Lease, Insurance Rules
By Denise Lugo As expected, the FASB on November 15, 2019, issued two new accounting standards with a set of …