FASB

The Financial Accounting Standards Board said Tuesday the Securities and Exchange Commission has accepted the latest updates to the GAAP Taxonomy for filing financial statements with the SEC.

The Financial Accounting Standards Board approved a tweak to the goodwill rules for private businesses and not-for-profits, giving them more flexibility on when to do impairment assessments of triggering events.

The Financial Accounting Standards Board released an accounting standards update Thursday, giving franchisors a practical expedient way to determine their performance obligations under a franchise agreement.

The Financial Accounting Standards Board has released an update on its recent guidance on reference rate reforms to clarify its scope.

The pandemic reshaped the profession throughout the year — and will continue to do so in 2021.

While organizations would like to see improvement, the consensus is that big updates could make future implementations more confusing.

The change would make it easier for private companies and nonprofit organizations to evaluate a goodwill triggering event.

The SEC Reporting Taxonomy and GAAP taxonomy still need to be approved by the SEC.

The board’s proposed ASU offers specific guidance on certain recognition and timing issues.

FASB has a project to review goodwill accounting — again. Here's an idea it might want to consider.

Stakeholder engagement and feedback are critical to standard-setting, says Richard Jones.

The Andersen alum served as standard-setter in the midst of the dot-com crash.

RSM donates $4 million through Birdies Fore Love campaign; Jackson Thornton elects CEO, principals; and more CPA news.

The foundation also appointed five new trustees.

NASBA appoints 2020-21 board members; Sweeney Conrad promotes 20; and more CPA news.

The board is postponing the effective date of its long-duration insurance standard for a year and making it easier to adopt it early.

Having started his transition at the beginning of the pandemic, Board Chair Richard Jones now faces the uncertainty of the presidential election and what Congress might do with accounting standards.

The update addresses the Reference Rate Reform ASU issued by the Financial Accounting Standards Board in March.

The Financial Accounting Standards Board has released a staff educational paper offering an overview of the accounting guidance for debt restructurings and modifications.

The proposed accounting standards update aims to clarify an issuer’s accounting for certain modifications of equity-classified forwards and options (such as warrants) that remain equity classified after their modification.