Accounting Standards
Latest News
Review of TaxGPT – The Accounting Technology Lab Podcast – Nov. 2024
ITA Announces New Members at Fall Collaborative
Wolters Kluwer Adds Tech and AI Features Across its CCH Axcess Cloud System
KNAV Merges in HLG Netherlands
GASB Resolves Transition Issue for Pension Standards
The Governmental Accounting Standards Board (GASB) recently issued a statement regarding the transition provisions of GASB’s new pension standards for state and local governments.
New York CPA Society endorses new FASB tax proposal
The New York State Society of Certified Public Accountants (NYSSCPA) expressed agreement with a proposal from the Financial Accounting Standards Board (FASB) that, if implemented, would standardize the treatment of net operating loss carryforwards or tax credit carryforwards on financial statements.
Report looks at FASB’s Proposed Accounting Standards for Leases
Thomson Reuters has released an overview of the Financial Accounting Standards Board’s (FASB) proposed accounting standards for leases.
FASB issues XBRL implementation guide for subsequent events
FASB has issued its U.S. GAAP Financial Reporting Taxonomy Implementation Guide—Subsequent Events. The guide is the first in a series of XBRL Implementation Guides, which are designed to help Taxonomy users understand how certain disclosures are structured within the Taxonomy, and is available at www.fasb.org.
FASB Issues Accounting Standards Update on Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income
The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting reclassifications out of accumulated other comprehensive income.
FASB Suggests Changes to Accounting for Repurchase Agreements
The Financial Accounting Standards Board has issued for public comment its proposal to improve financial reporting about repurchase agreements and other transfers with forward agreements to repurchase transferred assets.
New Financial Reporting Standards for Small Businesses
New AICPA framework would offer small businesses a new method of financial reporting. The framework is intended for companies who are not required to use Generally Accepted Accounting Principles.
BNA Launches New Accounting Resource Center
Site offers tools for understanding how accounting standards can be applied, from the valuation and impairment of assets, to accounting for financial instruments, as well as how these standards are changing.