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 …
Regulators Charge Eagle Bancorp, Ex-Chairman over Related-Party Loan Disclosure Failures
The SEC on Aug. 16, 2022, charged Eagle Bancorp, Inc. and its former Chairman and Chief Executive Officer Ronald Paul …
In a Surprising Move, FASB Drops Project on Subsequent Accounting of Goodwill
The FASB on June 15, 2022, unanimously voted to drop its project on identifiable intangible assets and the subsequent accounting …
Not Always Necessary to Buy Software to Adopt Lease Accounting Rules, FASB Panel Signals
Not all companies need lease accounting software or vendor assistance to adopt the lease accounting standard because straightforward contracts can …