GASB Advances Talks to Eliminate Offensive Slur from Acronym for Comprehensive Annual Financial Report
The GASB on January 12, 2021, agreed to draw up a proposal to change the name Comprehensive Annual Financial Report …
FASB to Consider Amending Credit Loss Rules in Four Targeted Areas
By Denise Lugo The FASB will consider revising its current expected credit loss (CECL) standard in four areas, including amending …
SPACs are Hot but Difficult to Pull Off
By Soyoung Ho SPACs are hot. Once regarded as somewhat shady as blank check companies, they have become the darling …
No Conceptual Basis for Other Comprehensive Income, FASB Says
By Denise Lugo The FASB on November 11, 2020, affirmed there is no conceptual basis for other comprehensive income (OCI), …
FASB Proposes to Revise Lease Accounting Rules in Three Areas
By Denise Lugo As expected, the FASB on October 20, 2020, issued a proposal that would amend lease accounting rules …
Tech Startups, Others Getting Consistency in Reporting Equity-Classified Warrants, Similar Instruments
By Denise Lugo Early-staged companies should get a consistent way to report modifications to all freestanding equity-classified derivative instruments, an …
FASB Plans to Stick with Status Quo on Quarterly Disclosure Rules
By Denise Lugo Companies will not see much change in quarterly disclosure rule requirements from what they provide currently but …
Big Insurers Jump to Rally Around FASB’s Proposed Delay of Life Insurance Accounting Rules
By Denise Lugo Some of the nation’s biggest life insurance companies have thrown their full support behind a FASB proposal …
FASB Agrees to Propose More Amendments to Lease Accounting Rules
By Denise Lugo The FASB on July 29, 2020, voted to issue a proposal in September that amends lease accounting …
FASB Agrees by Narrow Majority to Propose Alternative for Reporting Initial Franchise Fees
By Denise Lugo The FASB on July 22, 2020, voted 4 to 3 to propose an industry-specific alternative for how …