Firms Want to Adopt ‘Operable’ FASB Proposal on Crypto Rules ASAP with Fixes; Signal Appetite for More Rules
Some of the nation’s largest crypto businesses, Big Four accounting firms and others, told the FASB that proposed crypto assets …
Print Editions of GAAP Codification End This Year
A final print edition of the Accounting Standards Codification will be issued this year and “it does say on it …
Chair Jones: FASB Studying Two Parallel Paths to Potentially Revise the Statement of Cash Flows
FASB Chair Richard Jones on June 1, 2023, said the board plans to decide “at some point in time” whether …
FASB Gets Mixed Reviews from Groups on Proposed Tax Disclosure Rules, Including Strong Concerns
The FASB received a mixed bag of responses by its May 30, 2023, deadline to proposed income tax disclosure rules, …
The Accountants Weigh in: Savvy Businesses Can Successfully Navigate This Year’s Economic Stresses
In the past three years, seven U.S. banks failed. These include Silicon Valley Bank, Signature Bank and First Republic Bank …
FASB Proposes to Introduce Illustrative Example of Profits Interest Awards in U.S. GAAP
Businesses have two months to weigh in on a FASB proposal that provides an example to illustrate how to account …
FASB to Whittle Through Agenda ‘Fairly Quickly’ and Issue Consult Document Again Next Year, Chair Says
The FASB plans to complete most of the projects on its technical agenda in the next 18 months and may …
Private Companies Getting a Pass from Coming FASB Proposal on Disclosure of Income Statement Expenses
Private companies should be exempted from the FASB’s coming proposal that aims to ratchet up disclosure rules for income statement …
Fed Up with Lease Accounting Rules, Some Private Companies Turn to Tax Basis to File Statements
Some privately held companies are fed up and “exhausted” over adopting big new accounting standards, especially leases, and now have …
Issues will Bubble Up to FASB from Financial Data Transparency Act’s Impact on Companies
The Financial Data Transparency Act (FDTA) will impact corporate SEC Registrants’ digital reporting and therefore that law should be kept …