Accounting March 31, 2023
Financial Accounting Standards Advisory Council Meeting Recap
The FASB chair provided highlights on FASB activities, and the SEC and PCAOB staff members commented on current issues and activities.
Accounting March 24, 2023
FASB Issues Long-Awaited Exposure Draft on Crypto Asset Accounting
Board said fair value accounting was the right method for crypto assets, not the current cost-less-impairment model.
Accounting March 16, 2023
FASB Sets Out Plan to Improve Income Tax Disclosures
The proposed ASU addresses investor requests for more transparency about income tax information.
Accounting February 28, 2023
FAF Now Provides Unfettered Online Access to FASB, GASB Accounting Standards
As a result of this change, the former “Professional View” paid subscription service has been eliminated.
Accounting February 6, 2023
GASB Proposes New Guidance for Subscription-Based IT Services
If cleared as final implementation guidance, the question and answer in this supplemental Exposure Draft will be added to previously exposed questions and ...
Accounting February 3, 2023
FASB Votes to Move Ahead with Proposed Crypto Asset Accounting Standard
Companies would be required to measure crypto assets, like Bitcoin and Ethereum, using fair value accounting.
Accounting January 30, 2023
FAF Widens Access Online to FASB and GASB Standards
FAF hasn’t set a firm date for this change to online access to accounting standards, but it’s expected this spring.
Accounting December 21, 2022
FASB Decides to Defer Sunset Date of Reference Rate Reform Guidance
The ASU extends the period time for financial statement preparers to use the reference rate reform relief guidance.
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.