Don’t Wait Until the Last Minute to Adopt FASB’s Income Tax Disclosure Rules, Some Caution
The FASB’s income tax disclosure rules take effect next year, but companies should not wait until the last minute to …
Fund Manager Asks SEC to Write Rule for Disclosure of Revenues From Tobacco
The Securities and Exchange Commission (SEC) already has a jam-packed rulemaking agenda planned for this year, altogether about three dozen, …
FASB Votes Against 5 Technical Agenda Requests: Would do More Harm Than Good
The FASB on December 20, 2023, voted against adding five new projects to its technical rulemaking agenda, including on accounting …
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 …