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 …
Newly Minted FASB Rules on Supplier Finance Programs Will Reveal Financial Health of Companies
Starting next year, U.S. companies that use supplier finance programs to buy goods or services must disclose the full terms …
Other Regulators are Discussing Implications of SEC Staff Accounting Bulletin on Crypto Safeguarding Activities
In response to a question at a conference about whether the Public Company Accounting Oversight Board is thinking about providing …
Private Companies Don’t Want to be Struck Out of Crypto Accounting Rules Being Developed
Private Company Council (PCC) Chair Candace Wright on Sept. 22, 2022, said new accounting rules the FASB is developing for …
Investor Advisory Committee Recommends SEC to Review Current Accounting Standard-Setting Practices
The Securities and Exchange Commission’s (SEC) Investor Advisory Committee (IAC) on Sept. 21, 2022, unanimously voted to recommend that the …
Accounting Rules Related to Leasehold Improvements May Change for Both Public and Private Companies
The FASB on Sept. 21, 2022, voted by 4 to 3 to issue a proposal that would change the accounting …
SEC Acting Chief Accountant Highlights Financial Reporting Areas to Keep in Mind During Uncertain Economic Times
During a conference, SEC Acting Chief Accountant Paul Munter provided some important reporting areas that banks especially should consider when …
Negative Impact of Credit Loss Accounting Standard on Buyers’ Earnings Biggest Concern About Rules
The FASB may need to study the credit loss accounting standard for better tailoring in relation to acquisitions because it …
U.S. Income Statement Accounting Rules Could Change to Require Specifics About Labor Costs
The FASB is studying a plan that could require companies to break out more information in income statements about labor …
SEC Should Require Public Tax Reporting by U.S. Multinationals, Advocacy Group Says
The SEC should use its regulatory power to require that large U.S. multinational companies publicly disclose data they already collect …