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 …
SEC Enforcement Chief: Pending Supreme Court Case on In-House Proceedings Will Not Pause Charges Against Accountants
The Securities and Exchange Commission (SEC) will not hesitate to file charges against accountants and auditors in district courts instead …
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 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 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 …