Accounting December 19, 2022
FASB Improves Certain Transition Requirements in Long-Duration Insurance Rules
The Accounting Standards Update approved by the FASB on Dec. 15 amends transition guidance in ASU No. 2018-12.
Accounting December 19, 2022
2023 GAAP Financial Reporting Taxonomy is Now Available, FASB Says
The 2023 GAAP Financial Reporting Taxonomy is expected to be accepted as final by the SEC in early 2023.
Accounting December 1, 2022
FASB Looks to Tweak Guidance for Leases Under Common Control
Comments on the proposed Accounting Standards Update can be submitted until Jan. 16, 2023.
Accounting November 22, 2022
FASB Proposes New Conceptual Framework Chapter on Recognition and Derecognition
Stakeholders are encouraged to review and provide comment on the proposed chapter by Feb. 21, 2023.
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Accounting November 6, 2022
NASBA Announces 2022-23 Board of Directors
The National Association of State Boards of Accountancy (NASBA) announces members of its Board of Directors for 2022-2023. Members were installed during NASBA’s 115th Annual Meeting, held Oct. 30 – Nov. 2, 2022, in San Diego, CA.
Accounting October 27, 2022
FASB Seeks to Amend Accounting Rules for Joint Ventures
The proposed ASU would give investors more information about a joint venture’s separate financial statements.
Accounting October 19, 2022
FASB Proposes New Chapter—the Reporting Entity—for Its Conceptual Framework
Stakeholders are asked to provide input on the characteristics of a reporting entity by Jan. 16, 2023.
Accounting October 13, 2022
FASB Decides on Accounting Method for Crypto Assets
Companies should measure crypto assets, like Bitcoin and Ethereum, using fair value accounting, the FASB said.
Accounting October 10, 2022
FASB: ’Significant Change’ Proposed for Segment Reporting Rules
The FASB says the proposed ASU would improve disclosures about a public company's segment expenses.
Accounting September 29, 2022
5 Mistakes to Avoid When Implementing the New Lease Standard
Simplify your lease accounting implementation by learning from the mistakes of public and international companies that are in their fourth year of following the new lease standard.
Accounting September 19, 2022
Accounting Profession Not Ready for ESG Measuring and Reporting, Says PICPA
PICPA surveyed members on their perceptions of ESG to fully understand how the accounting profession is preparing for new reporting standards in this area.
Accounting June 27, 2022
FASB to Review Accounting For Environmental Credit Programs
The Financial Accounting Standards Board (FASB) recently decided to tackle a project that could result in new rules being created on how companies should account for environmental credits, such as renewable energy credits and carbon offset credits.