Exception to Derivatives Accounting Rules to be Expanded in Coming FASB Proposal
The nation’s accounting rulemaker plans to propose rules this summer that would keep the boundaries of complex derivatives accounting rules …
Newly Issued FASB Rules Require Fuller Disclosure of Taxes Paid in US, Other Countries
The nation’s main accounting rulemaker on December 14, 2023, published new disclosure rules that require more transparency about income taxes …
House Bill Reintroduced to Add FASB Procedural Checks, Require Annual Chair Testimony
A House Republican on December 12, 2023, reintroduced legislation requiring the chair of the FASB to testify annually before two …
FASB Publishes its First Direct Accounting Standard for Reporting Crypto Assets
The FASB on December 13, 2023, issued its first direct accounting and disclosure standard on crypto assets to provide guidance …
Power and Utilities Sector asks FASB to Fix Rules for Construction Costs tied to Leases
The power and utilities sector has asked the FASB to address a narrow reporting issue involving the costs around the …
Dozens of Firms, Groups Balk Over Proposed FASB Disclosure Rules on Income Statement Expenses
Some of the nation’s biggest companies and trade organizations told the FASB that its proposed disclosure rules to disaggregate income …
As Accounting Rules Often Surface in Deal Litigation, Some Suggest FASB Study
U.S. accounting rulemakers should routinely study why certain accounting topics keep surfacing in corporate lawsuits to assess how rules that …
Exclusive Midyear Interview with FASB Chair Richard Jones
FASB Chair Richard Jones likened the accounting year so far to country music group Zac Brown Band’s “Same Boat,” a …
Print Editions of GAAP Codification End This Year
A final print edition of the Accounting Standards Codification will be issued this year and “it does say on it …
FASB Gets Mixed Reviews from Groups on Proposed Tax Disclosure Rules, Including Strong Concerns
The FASB received a mixed bag of responses by its May 30, 2023, deadline to proposed income tax disclosure rules, …