Power and Utilities Sector asks FASB to Fix Rules for Construction Costs tied to Leases
The power and utilities sector has asked the FASB to address a narrow reporting issue involving the costs around the …
New FASB Accounting Rules on Segment Reporting, Income Taxes, Crypto—Coming by Mid-December
The FASB will publish new accounting standards on income taxes and crypto assets in the middle of December, the Board’s …
Statement of Cash Flows to be Narrowly Reorganized for Financial Institutions, FASB Says
The FASB on November 8, 2023, voted to add a rulemaking project to its agenda to reorganize the statement of …
Dozens of Firms, Groups Balk Over Proposed FASB Disclosure Rules on Income Statement Expenses
Some of the nation’s biggest companies and trade organizations told the FASB that its proposed disclosure rules to disaggregate income …
As Accounting Rules Often Surface in Deal Litigation, Some Suggest FASB Study
U.S. accounting rulemakers should routinely study why certain accounting topics keep surfacing in corporate lawsuits to assess how rules that …
FASB Revises Fourth Quarter Agenda Outlook: Three New Standards, Two Proposals Left to Come by Year-End
The FASB revised its fourth quarter technical agenda on Oct. 10, 2023, to showcase that the board will issue three …
FASB Publishes New Accounting Standard to Incorporate 14 SEC Disclosure Rules into GAAP
The FASB on Oct. 9, 2023, issued an accounting standard that pulls 14 SEC disclosure requirements into the U.S. GAAP …
New Subtopic for Crypto Assets to be Added to Intangibles Section of U.S. GAAP by Year-End
The FASB plans to add a new subtopic number for crypto assets into the intangible assets section of the codification …
Accounting Rules for a Simple Agreement for Future Equity Raising Concerns, FASB Private Company Panel Says
Firms have raised concerns to the FASB’s private company advisers about the complexity of reporting a Simple Agreement for Future …
FASB Unanimously Votes to Finalize Proposal on Accounting and Disclosure of Crypto Assets
The FASB on Sept. 6, 2023, unanimously voted to finalize proposed accounting rules on crypto assets—one of the board’s quickest …