Proposed Changes to U.S. GAAP Taxonomy Reflect Standards for Credit Losses, Debt Classification
The FASB’s research staff has floated two changes to the U.S. GAAP financial reporting taxonomy to reflect the disclosure requirements …
Thomson Reuters Provides Guidance on New Accounting Standard for Nonprofit Organizations
Thomson Reuters has released a Checkpoint report that provides guidance on a new Financial Accounting Standards Board (FASB) accounting standard …
Debt Classification Guidance Moves Closer to Final Status
The FASB plans to settle some of the lingering issues on its upcoming guidance for classifying debt before publishing the …
Lease Accounting Is Amended to Aid Implementation
The FASB granted businesses and other organizations two significant breaks as they implement its lease standard. Companies will be able …
Clarification of Collaborative Arrangements Standard to Be Published by Year End
The FASB agreed to finalize a plan aimed to address questions in practice about when companies team up to share …
One More Public Review Is Anticipated for Planned Amendments to Debt Classification Guidance
The FASB plans to publish by the end of the summer a final version of an update to U.S. GAAP …
Insurance Amendments Positioned for Third Quarter Release Despite Industry Complaints
The FASB plans to hold what Chairman Russell Golden believes will be the last public debate on its much-watched insurance …
Proposed Amendment to U.S. GAAP Allows Capitalization of More Cloud Computing Costs
The FASB released for public comment a proposed amendment to U.S. GAAP developed by its Emerging Issues Task Force (EITF) …
Banks, Insurers to Get Relief From Accounting Effects of New Tax Law
The FASB agreed to finalize a proposal it released in January that aims to alleviate concerns from banks and insurance …
Tax Law May Lead to Changes in U.S. GAAP
The FASB plans to discuss at its upcoming meeting whether it needs to make a change to its accounting standard …