Accounting Standards December 11, 2025
AICPA News – Dec. 2025
AICPA News is a round-up of recent announcements from the American Institute of CPAs, the Association of International CPAs, and the Chartered Institute of Management Accountants (CIMA).
April 12, 2016
Sustainable Accounting Standards Developed For All Industries
The organization has opened three key documents—the SASB Rules of Procedure, the SASB Conceptual Framework, and proposed changes to its Sustainable Industry Classification System (SICS) — for a 90-day public comment period.
April 12, 2016
GASB Issues New Pension Guidance
The requirements of GASB Statement 82 are generally effective for reporting periods beginning after June 15, 2016, with earlier application encouraged. Additional information regarding implementation timing is available in the document.
March 30, 2016
FASB Issues Guidance On Employee Share-Based Payments
Accounting for employee share-based awards was identified by the Private Company Council (PCC) as an area of concern among private company stakeholders. The PCC worked with the FASB to discuss and analyze the issues that private companies have ...
March 1, 2016
Report Focuses on New FASB Lease Accounting Standard
When the new lease accounting standard becomes effective, lessees will for the first time be required to report billions of dollars in leased assets and corresponding liabilities from operating leases on their balance sheets.
February 29, 2016
GASB Statement Provides Guidance on Reporting of Component Units
The Governmental Accounting Standards Board (GASB) has a new statement about how certain component units incorporated as not-for-profit corporations should be presented in the financial statements of the primary state or local government.
January 27, 2016
FASB Proposes Changes to Reporting of Pensions and Other Retirement Plans
Under Generally Accepted Accounting Principles (GAAP), defined benefit pension cost and postretirement benefit cost (net benefit cost) comprise several components that reflect different aspects of an employer’s financial arrangements, as well as the ...
January 6, 2016
FASB Issues New Guidance on Recognition and Measurement of Financial Instruments
The ASU on recognition and measurement will take effect for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For private companies, not-for-profit organizations, and employee ...
December 30, 2015
GASB Proposes New Guidance on Fiduciary Activities, Asset Retirements and Pensions
The proposals addressing fiduciary activities and certain asset retirement obligations would establish guidance in areas where little or none exists today.
December 30, 2015
2016 GAAP Financial Reporting Taxonomy Now Available
The GAAP Financial Reporting Taxonomy is a list of computer-readable tags in eXtensible Business Reporting Language (XBRL) format that allows companies to tag precisely the thousands of pieces of financial data that are included in typical long-form ...
December 17, 2015
Portfolios Offer Guidance On New Revenue Recognition Standard
The Portfolios provide a detailed description of the five steps corporations will need to employ in recognizing revenue and offer practical insight to professionals within corporations responsible for implementing and complying with the new standard.
December 9, 2015
Deloitte Gives $1 Million to SASB
Deloitte’s contribution to SASB is both financial and services-based. The financial commitment is in the form of $1 million in direct financial support over the course of four years, while the services-based commitment consists of in-kind support to ...
October 8, 2015
New Content Helps Accounting Pros with Changes to Financial Reporting Requirements
The FASB has a project underway to improve accounting rules for financial instruments and is expected to issue a final standard in late 2015 to make targeted improvements to existing Generally Accepted Accounting Principles (GAAP).