CFOs in all Industries can Learn from Bank Collapses, Institute of Management Accountants Says
It will take more time to get a full explanation behind the recent collapse SiliconValley Bank (SVB). But there is …
Coming FASB Proposal on Disclosures for Annual and Quarterly Expenses Will be Costly to Apply
The FASB on March 29, 2023, unanimously voted to issue a proposal that will add new disclosure requirements for reporting …
Newly Issued FASB Accounting Rule Offers Simpler Way to Report Federal and State Tax Credit Investments
An accounting rule that was specifically developed for reporting low-income housing tax credit (LIHTC) investments has been expanded to include …
New FASB Accounting Rules Issued for Leases Between Related Businesses with a Common Owner
As expected, the FASB on March 27, 2023, published narrowly drawn amendments to lease accounting rules that clarify issues that …
FASB Proposes Accounting Rules for Measuring, Presenting and Disclosing Crypto Assets
The FASB on March 23, 2023, issued a proposal to provide accounting and disclosure rules for certain types of crypto …
Consider Developing a Standard Definition of EBITDA for U.S. GAAP, FASB Advisers Say
Senior accountants said the FASB should consider standardizing the definition of EBITDA, the acronym for Earnings Before Interest, Taxes, Depreciation, …
FASB Issues Proposal that Will Boost Disclosures around Income Taxes Companies Pay in U.S., Overseas
The FASB on March 15, 2023, proposed a package of income tax disclosure rules that will require companies to provide …
Silicon Valley Bank’s Failure Sparks Speculation that FASB Accounting Rules for Held-to-Maturity Debt Securities Should be Revised
In light of Silicon Valley Bank’s (SVB) failure, speculation has surfaced about whether the FASB’s accounting rules for held-to-maturity (HTM) …
Recent Bank Failures May Indicate Problems with Going Concern Standards, Liquidity Risk Disclosure Rules
By now almost everyone knows that Silicon Valley Bank (SVB), which largely lent to tech companies, failed almost overnight on …
FASB Revises Rule Issuance Plans for First Quarter: Two New Accounting Standards, Two Proposals to Come
The FASB revised its first quarter plans and will now issue two new accounting standards and two proposals by the …