U.S. Accounting Rulemaker Drops Project to Simplify Debt Classification Rules
The FASB voted 5 to 2 to drop a seven-year old project aimed at simplifying the accounting guidance for classifying …
FASB Faces Conundrum Over ESG Reporting Issues
The FASB would need precise suggestions from the accounting profession on environment, social, and governance (ESG) matters to consider taking …
House Subcommittee Brings Back Long-Delayed LIBOR Hearing
A House Financial Services subcommittee will finally get to its hearing on the transition away from the London Interbank Offered …
Moody’s Seeing Varied Practices Reporting Effects of Pandemic
Public companies are filing Form 10-Ks with 2020 results. And analysts with credit ratings agency Moody’s Investors Service said they …
Accounting Rulemakers Aiming to Keep Segment Expense Disclosure Rules Robust
Analysts and other financial statement users will likely get the level of detail they have clamored for related to segment …
FASB Rejects Two Agenda Request from Big Four Accounting Firms, Citing Lack of Pervasiveness
The FASB on March 3, 2021, voted against adding projects to its technical agenda to clarify rules related to common …
Companies Might be Confused About Conceptual Framework, Rulemakers Say
Some accounting practitioners might be confused about what the FASB’s conceptual framework is actually used for, according to February 17, …
Proposal on Goodwill Triggering Events Will Be Finalized With Broader Scope, Accounting Rulemaker Says
The FASB on February 10, 2021, voted 6 to 1 to finalize its December 2020 proposal on private companies’ assessment …
FASB Simplifies Private Company Accounting Rules for Franchise Fees
By Denise Lugo The FASB on January 28, 2021, published an accounting workaround to give privately-owned franchisors a simpler way …
FASB Advances on Mechanics of Principle for Segment Expense Disclosures
By Denise Lugo The FASB on January 20, 2021, advanced discussions to operationalize the disclosure principle it decided to develop …