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, …
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 to Issue One New Accounting Standard and Three Proposals This Quarter
The FASB plans to issue one new standard and three proposals by the end of this reporting quarter, according to …
Present Crypto Assets Separately From Other Intangibles on the Balance Sheet, FASB Says
Companies should be required to present crypto assets separately from other intangible assets on the balance sheet because they have …
Insurance Sector Gets Accounting Relief for Disposed of businesses and Contracts
The FASB on Dec. 15, 2022, published a tweak to its long-term insurance accounting standard to make it easier for …
PCAOB Finds Deficiencies at 21 Audit Firms
The PCAOB identified deficiencies in the work of 21 audit firms in the board’s most recent round of inspection reports, …
Companies Already Have Implementation Questions on SEC’s New Pay vs. Performance Rule
The Securities and Exchange Commission’s Division of Corporation Finance (CorpFin) staff has already been getting implementation inquiries about the commission’s …
Staff Accounting Bulletin on Crypto Safeguarding Obligations is Not SEC Rule, Senior Official Says
During a financial reporting conference, the SEC’s top accounting official emphasized that Staff Accounting Bulletin (SAB) No. 121 related to safeguarding obligations …
FASB Chair: Crypto Accounting Proposal Coming in First Half of 2023
A FASB proposal on the accounting for cryptocurrencies will be issued during the first half of next year to solicit …
FASB Proposes Biggest Changes in 25 Years for Public Company Disclosure of Business Unit Expenses
The FASB on Oct. 6, 2022, issued a proposal that would require public companies to disclose any significant expenses that …