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, …
The Accountants Weigh in: Savvy Businesses Can Successfully Navigate This Year’s Economic Stresses
In the past three years, seven U.S. banks failed. These include Silicon Valley Bank, Signature Bank and First Republic Bank …
FASB to Whittle Through Agenda ‘Fairly Quickly’ and Issue Consult Document Again Next Year, Chair Says
The FASB plans to complete most of the projects on its technical agenda in the next 18 months and may …
Fed Up with Lease Accounting Rules, Some Private Companies Turn to Tax Basis to File Statements
Some privately held companies are fed up and “exhausted” over adopting big new accounting standards, especially leases, and now have …
Issues will Bubble Up to FASB from Financial Data Transparency Act’s Impact on Companies
The Financial Data Transparency Act (FDTA) will impact corporate SEC Registrants’ digital reporting and therefore that law should be kept …
Newly Issued FASB Accounting Rule Offers Simpler Way to Report Federal and State Tax Credit Investments
An accounting rule that was specifically developed for reporting low-income housing tax credit (LIHTC) investments has been expanded to include …
New FASB Accounting Rules Issued for Leases Between Related Businesses with a Common Owner
As expected, the FASB on March 27, 2023, published narrowly drawn amendments to lease accounting rules that clarify issues that …