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Accounting Standards

FASB OKs New Credit Losses Guidance for Accounts Receivable, Contract Assets

Accounting July 30, 2025 

FASB OKs New Credit Losses Guidance for Accounts Receivable, Contract Assets

The Financial Accounting Standards Board issued new optional guidance on July 30 regarding the measurement of credit losses for accounts receivable and contract assets.

Jason Bramwell

Featured Articles

July 18, 2025  

Financial Accounting Standards Board and the Accounting Standards Board of Japan Hold Bilateral Meeting

July 10, 2025  

Crunchafi to Share Practical ASC 842 Strategies at July Conferences

July 7, 2025  

AICPA Seeks Comment on Proposed Update to Auditors’ Responsibilities Related to Fraud

June 23, 2025  

IASB Issues Revised Practice Statement on Management Commentary

June 23, 2025  

GASB Provides Guidance to Assist Stakeholders with Application of its Pronouncements
FASB OKs New Credit Losses Guidance for Accounts Receivable, Contract Assets

Accounting July 30, 2025 

FASB OKs New Credit Losses Guidance for Accounts Receivable, Contract Assets

The Financial Accounting Standards Board issued new optional guidance on July 30 regarding the measurement of credit losses for accounts receivable and contract assets.

Jason Bramwell

Financial Accounting Standards Board and the Accounting Standards Board of Japan Hold Bilateral Meeting

Accounting Standards July 18, 2025 

Financial Accounting Standards Board and the Accounting Standards Board of Japan Hold Bilateral Meeting

The meeting was the thirty-fifth in a series of meetings between the FASB and the ASBJ to further the boards’ cooperative efforts to develop high-quality global accounting standards.

Isaac M. O'Bannon

Crunchafi to Share Practical ASC 842 Strategies at July Conferences

Accounting July 10, 2025 

Crunchafi to Share Practical ASC 842 Strategies at July Conferences

Crunchafi will present in two key accounting conferences this month, offering actionable strategies to navigate the ongoing complexities of ASC 842.

Isaac M. O'Bannon

Fraud21

Accounting July 7, 2025 

AICPA Seeks Comment on Proposed Update to Auditors’ Responsibilities Related to Fraud

The proposed Statement on Auditing Standards contains a number of changes, including the establishment of required procedures for when an auditor has identified fraud or suspected fraud.

Isaac M. O'Bannon

IASB Issues Revised Practice Statement on Management Commentary

Accounting Standards June 23, 2025 

IASB Issues Revised Practice Statement on Management Commentary

The revised Practice Statement supports improvements to and greater global alignment in management commentary and narrative reports accompanying the financial statements.

GASB Provides Guidance to Assist Stakeholders with Application of its Pronouncements

Accounting Standards June 23, 2025 

GASB Provides Guidance to Assist Stakeholders with Application of its Pronouncements

The guide contains new questions and answers that address application of GASB standards on leases, accounting changes and error corrections, conduit debt obligations, and cash flows reporting, among others.

Isaac M. O'Bannon

IFRS Foundation Publishes Guidance on Disclosures About Transition Plans

Accounting Standards June 23, 2025 

IFRS Foundation Publishes Guidance on Disclosures About Transition Plans

The document builds on disclosure-specific material developed by the Transition Plan Taskforce (TPT), for which the IFRS Foundation took responsibility in 2024.

Isaac M. O'Bannon

AICPA Seeks Comment on Proposed Criteria for Stablecoin Controls

Accounting Standards June 16, 2025 

AICPA Seeks Comment on Proposed Criteria for Stablecoin Controls

The American Institute of CPAs (AICPA) is reinforcing its role as a leading voice in the treatment of digital assets by providing a framework for controls over stablecoins.

Isaac M. O'Bannon

FASB OKs Update to Guidance on Share-Based Consideration Payable to a Customer

Accounting May 15, 2025 

FASB OKs Update to Guidance on Share-Based Consideration Payable to a Customer

The Financial Accounting Standards Board issued an Accounting Standards Update on May 15 that clarifies accounting guidance for share-based consideration payable to a customer in conjunction with selling goods or services.

Jason Bramwell

FASB Issues Standard Clarifying Accounting Acquirer in a Business Combination

Accounting May 12, 2025 

FASB Issues Standard Clarifying Accounting Acquirer in a Business Combination

The Financial Accounting Standards Board published new rules on May 12 that the board says improve the requirements for identifying the accounting acquirer in FASB ASC Topic 805, Business Combinations.

Jason Bramwell

FASB Proposes Standard to Improve Debt Exchange Accounting

Accounting Standards May 1, 2025 

FASB Proposes Standard to Improve Debt Exchange Accounting

The Financial Accounting Standards Board issued a proposed ASU on April 30 that would provide accounting guidance for debt exchange transactions involving multiple creditors.

Jason Bramwell

UWorld Awards Nearly $30,000 in Spring Accounting & Finance Scholarships, Opens Fall Applications

Accounting Standards April 22, 2025 

UWorld Awards Nearly $30,000 in Spring Accounting & Finance Scholarships, Opens Fall Applications

Three undergraduates, four graduate students, and three working professionals will be granted complimentary access to UWorld’s CPA Elite-Unlimited Course, CMA Elite-Unlimited Course, or a CFA Elite Course for Level 1, 2, or 3.

Isaac M. O'Bannon

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