Top 5 Accounting Rules to Hit Companies’ Books This Year, Including Issues to Watch For
Several of the FASB’s significant accounting standards take effect for the first time this year for businesses, including new rules …
Lookback at FASB in 2022: Fewer Rules Issued Than Prior Years
The FASB, the nation’s developer of U.S. GAAP, closed out 2022 having issued six narrow accounting standards, a drop from …
FASB Issues Two-Year Extension on Accounting Rules that Facilitate Shift from LIBOR
The FASB on Dec. 21, 2022, published a two-year extension of temporary accounting relief guidance to continue to ease the …
FASB Proposal Coming Early Next Year to Require Greater Disclosure of Income Taxes Paid in U.S., Overseas
The FASB on Nov. 30, 2022, voted to issue a proposal during next year’s first quarter that would require companies …
FASB Proposes to Clarify Lease Accounting Rules for Subsidiaries Controlled by the Same Parent Company
The FASB on Nov. 30, 2022, proposed what could be the eighth round of changes to lease accounting rules, this …
Concerns Bubbling Up Over Implications of Financial Data Transparency Act for GASB
The GASB is monitoring the process of the Financial Data Transparency Act of 2022 that was floated by Congress earlier …
House Bill Would Subject FASB to New Procedural Requirements, Mandate Chair Testimony
Two House republicans on Nov. 16, 2022, introduced legislation that would subject the FASB to new procedural checks and require …
U.S. Accounting Rulemakers Agree That Crypto Assets Should be Measured at Fair Value
Cryptocurrencies – tokens like Bitcoin and Ethereum – should be measured at fair market value as that reflects the underlying …
U.S. Accounting Rulemakers Pressed Overseas About Feds’ View of Crypto Project
The FASB was asked during a joint discussion with the International Accounting Standards Board (IASB) whether the board “touched base” …
How Long Will it Take to Develop Crypto Accounting Rules? FASB Isn’t the Problem
Speculation has bubbled up about how fast the FASB, the nation’s main accounting rulemaker, can move to issue new accounting …