Accounting March 19, 2025
SEC OKs 2025 FASB Taxonomies
The SEC approved the 2025 GAAP Financial Reporting Taxonomy and two others, while the FASB finalized two additional taxonomies.
Accounting February 27, 2025
GASB Says Fair Value Standard Achieved Objectives
A post-implementation review report released on Feb. 26 concluded the Governmental Accounting Standards Board's fair value measurement standard—Statement No. 72, Fair Value Measurement and Application—has met its objectives.
Accounting October 9, 2023
FASB Issues Disclosure Improvements in Response to the SEC’s Disclosure Update and Simplification Initiative
The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of Codification Topics.
Accounting October 4, 2023
FASB to Host Public Roundtable on Proposal to Improve Disclosures around Income Statement Expenses
The Financial Accounting Standards Board (FASB) will host a public roundtable on its July 2023 proposed Accounting Standards Update (ASU).
Accounting September 7, 2023
FASB OKs New Crypto Assets Standard
The new rules will require certain cryptocurrency assets, such as Bitcoin and Ethereum, to be measured at fair value.
Accounting August 23, 2023
FASB Approves New Accounting Rules for Joint Ventures
The ASU, issued by the FASB on Aug. 23, provides specific guidance on the accounting for joint venture formations.
Accounting August 1, 2023
FASB Seeks Public Comment on Proposal to Improve Disclosures around Income Statement Expenses
The proposed ASU would require public companies to provide detailed disclosure of specified categories underlying certain expense captions in interim and annual periods.
Accounting June 30, 2023
IASB Seeks Input for Review of Accounting Standard on Revenue
The accounting standard was developed jointly with the U.S. Financial Accounting Standards Board and came into effect in 2018.
Accounting June 28, 2023
No Escape: How to Live with the New Lease Accounting Standards
While ASC 842, IFRS 16, and GASB 87 aren’t making anyone’s life easier, there are some exceptions to the rules.
Accounting June 27, 2023
FASB Plans Changes to Acquired Financial Asset Reporting
The proposal would eliminate the “double count” that occurs under current expected credit loss (CECL) accounting.
Accounting May 11, 2023
FASB Seeks to Add Guidance on Profits Interest Awards
Proposal would help companies determine whether these awards should be accounted for as a share-based payment arrangement.
Accounting May 2, 2023
FASB Updates Rules on Common-Control Leases
The guidance pertains to applying the leases standard to related party arrangements between entities under common control.