Investor Disinterest Push FASB to Drop Project on Distinguishing Liabilities from Equity
The FASB on April 13, 2022, voted 5 to 2 to drop the second phase of its project to simplify …
FASB Eliminates Troubled Debt Accounting Rule With Limits, Enhances Loan Disclosures
The FASB on March 31, 2022, published an amendment to credit loss accounting rules to enhance the usefulness of vintage …
Roll Out Affordable Housing Accounting Rule Conditionally to All Tax Credit Investments, Task Force Says
The FASB should extend the accounting rule used for low-income housing tax credit (LIHTC) investments to all federal and state …
Exclusive Interview With FASB Chair Richard Jones: Includes Insights on Path for Cryptocurrencies, ESG
FASB Chair Richard Jones told Thomson Reuters in a March 2022 interview that the Federal Reserve’s proposed U.S. central bank digital currency …
FASB Sticks With Efforts to Revise the Income Statement, Signals Added Costs for Companies
The FASB on February 16, 2022, voted to reframe its project to revise the income statement, sticking with the objective …
FASB to Issue Flexible Hedge Accounting Technique Mid-April
U.S. accounting rulemakers plan to issue a flexible hedge accounting rule called the portfolio-layer-method mid-April, according to a source. The …
Rolling Stones Verse in Tow, FASB Affirms Two Proposals to Amend Credit Loss Rules
The FASB on February 2, 2022, affirmed its recent proposals to enhance the usefulness of vintage disclosures and to eliminate …
GASB Update to LIBOR Cessation Accounting Rules Coming in Spring for Cities, States
A GASB update to accounting rules that address the dissolution of the London Interbank Offered Rate (LIBOR) will be published …
Top 5 Issues to Master to Adopt FASB Lease Accounting Rules This Year
Private companies, the largest business demographic in the U.S., have to adopt the FASB’s new lease accounting standard starting this …
FASB Proposes New Disclosures for Buyers in Supplier Finance Programs
Buyers that use supplier finance programs to pay for goods or services will need to cough up new details about …