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 …
FASB Proposes Accounting Rules for Measuring, Presenting and Disclosing Crypto Assets
The FASB on March 23, 2023, issued a proposal to provide accounting and disclosure rules for certain types of crypto …
FASB Issues Proposal that Will Boost Disclosures around Income Taxes Companies Pay in U.S., Overseas
The FASB on March 15, 2023, proposed a package of income tax disclosure rules that will require companies to provide …
Silicon Valley Bank’s Failure Sparks Speculation that FASB Accounting Rules for Held-to-Maturity Debt Securities Should be Revised
In light of Silicon Valley Bank’s (SVB) failure, speculation has surfaced about whether the FASB’s accounting rules for held-to-maturity (HTM) …
FASB Revises Rule Issuance Plans for First Quarter: Two New Accounting Standards, Two Proposals to Come
The FASB revised its first quarter plans and will now issue two new accounting standards and two proposals by the …
U.S. Accounting Rulemakers Studying How Investors Use Artificial Intelligence to Consume Financial Data
The FASB and the GASB are actively monitoring the evolution of electronic financial reporting, including how investors use Artificial Intelligence …
FASB Runs into Opposition from U.S. Chamber of Commerce on Coming Income Tax Disclosure Proposal
The nation’s main accounting rulemaker has run into opposition from the U.S. Chamber of Commerce about disclosure rules it plans …
FASB Crypto Proposal Coming by End of March amid Slight Sector Rebound from Lows
The FASB on Feb. 1, 2023, said the public will get 75 days to comment on a proposal on accounting …
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 …