FASB

The Securities and Exchange Commission voted Friday to simplify some of its disclosure requirements that have become outdated, duplicative or overlapping because of changes in the information environment or U.S. GAAP, or because of other SEC disclosure requirements.

The Financial Accounting Standards Board released a long-awaited accounting standards update Wednesday to improve the financial reporting for insurance companies that issue long-duration contracts, such as life insurance, disability income, long-term care and annuities.

The Financial Accounting Standards Board is proposing to make a number of narrow improvements in the lease accounting standard as public companies get ready for it to take effect at the end of the year.

The American Institute of CPAs’ Financial Reporting Executive Committee, also known as FinREC, has posted a pair of working drafts on how accountants can deal with two issues related to the Current Expected Credit Loss standard that will be taking effect at the end of next year.

Four professors were honored for their research paper examining FASB standards and shareholder value.

The Financial Accounting Standards Board is looking for public companies that are willing to participate in research on potential improvements to the segment aggregation guidance and the reportable segments process.

The Financial Accounting Standards Board aims to reduce cost and ease implementation of the standard.

The Financial Accounting Standards Board is proposing to modify the effective date of its Current Expected Credit Losses standard for nonpublic companies, giving many private banks and credit unions an extra year to get ready for the new rules.

Walgreens, CVS and AT and T top the list of U.S. companies with the most operating lease liabilities that will need to be added to their balance sheets under the new leasing standard, according to a new report.

The Financial Accounting Standards Board released a set of mostly minor revisions and technical corrections to the lease accounting standard.