The Financial Accounting Standards Board (FASB) has released the proposed 2015 GAAP Financial Reporting Taxonomy for public review and comment. The deadline to submit written comments is October 31, 2014.
"“The CAQ commends FASB for its efforts in developing a standard that provides guidance regarding a preparer’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern, and, where required, to provide footnote disclosures about going concern uncertainties each reporting period," said executive director Cindy Fornelli.
As part of its simplification initiative, the Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update intended to simplify the accounting for a customer’s fees paid in a cloud computing arrangement.
The Financial Accounting Standards Board (FASB) today relaunched its technical agenda web page to provide a more user-friendly graphic overview of each Board project and enable visitors to better understand how individual projects relate to the Board’s overall activities. The new plan is found at fasb.org/technicalagenda.
As part of an initiative towards simplifying accounting standards, the Financial Accounting Standards Board (FASB) has issued two proposed updates that are meant to ease the measurement of inventory and eliminate the requirements for extraordinary items
As part of a new initiative to reduce complexity in accounting standards, the Financial Accounting Standards Board (FASB) has added two short-term projects to its agenda to simplify Generally Accepted Accounting Principles (GAAP).
The Financial Accounting Standards Board (FASB) has issued a new standard to improve the financial reporting of repurchase agreements and other similar transactions. Accounting Standards Update No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements.
Members of the TRG include financial statement preparers, auditors and users representing a wide spectrum of industries, geographical locations and public and private companies and organizations.