Exclusive Midyear Interview with FASB Chair Richard Jones
FASB Chair Richard Jones likened the accounting year so far to country music group Zac Brown Band’s “Same Boat,” a …
FASB Proposes New Disclosure Rules for Public Companies on Income Statement Expenses
The FASB on July 31, 2023, issued a proposal that will require public companies to disclose additional information about significant …
FASB Votes to Finalize Proposed Changes to Segment Expense Disclosure Rules
The FASB on July 26, 2023, voted to finalize proposed changes to segment reporting, wrapping up about six years of …
Can FASB Fix Complex Commodities Accounting Rules? Not Without IFRS, CPA Group Says
Accountants who believe that the FASB may end up aligning U.S. GAAP with international financial reporting standards on commodities, recently …
Securities Industry Asks FASB for Three Extra Months to Study Proposal on Purchased Financial Assets
The Securities Industry and Financial Markets Association (SIFMA) asked the FASB to extend the comment period on proposed accounting rules …
FASB Proposes to Amend Credit Loss Accounting Rules to Simplify Reporting of Purchased Financial Assets
The FASB on June 27, 2023, issued a proposal to obtain public comment on changes to provide a single accounting …
Unique Effective Date Challenge Posed for Private Companies on Coming FASB Rules on SEC Disclosures
Private companies will not know when coming FASB disclosure rules that are aimed at incorporating certain SEC disclosures into U.S. …
New FASB Lease Accounting Rules Better for Investors but Some Financial Reports Lack Comparability
Questions continue to surface to the FASB about lease accounting rules, including whether analysts and lenders find the resulting new …
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 …