FASB

As FASB considers additional interventions in the way public companies account for goodwill, they would do well to remember one of Hippocrates’ maxims for physicians.

The clock is ticking on the countdown to the implementation of the new accounting rules for private companies.

To ensure entities have reliable and proper historical data accumulated when they implement CECL, they should start start cleaning up their data.

Only 26.3 percent of public company execs say their implementation of the lease accounting standard is complete, according to a new survey by Deloitte.

Small banks are likely to benefit from the proposed delay, allowing them to learn the lessons from larger banks that have already begun using the new rules.

The board is amending its guidance for determining whether debt should be classified as a current or noncurrent liability in a classified balance sheet, in response to input from private companies.

The document can help auditors with the allowance for credit losses under the new standard for measuring credit losses on financial statements.

Banks are making the transition from the London Interbank Offered Rate to new reference rates for short-term loans.

Will spreadsheets help in implementing the new lease standard?

Moody’s Investors Service is objecting to a proposal from the Financial Accounting Standards Board to defer the effective dates of its leases, hedging and credit loss standards for private companies and small public companies.

The proposed update would give insurers an extra year to implement the new rules.

Michael Morrow will be the new chair of the Financial Accounting Standards Advisory Council, and new members are joining the Private Company Council.

His analysis underscored how sweeping accounting changes coming in the next few years are raising questions for the life insurance industry.

The American Institute of CPAs’ Financial Reporting Executive Committee is offering some advice on issues related to the new credit losses standard.

The board wants to give private companies, nonprofits, and certain small public companies extra time to implement new standards on CECL, leases and hedging.

Both public and private companies are underestimating the challenges of transitioning to the new lease accounting standard, according to a new survey.

In the area of fixed assets and the resultant depreciation there are some major differences between the GAAP rules codified in ASC Topic 360 and the IFRS rules in IAS 16.

Private companies, nonprofits and some smaller public companies will get some extra time to get ready for major accounting standards, under a recent proposal.

The proposed update aims to improve the guidance for both convertible instruments and the derivatives scope exception for contracts in a company’s own equity.

The Financial Accounting Standards Board is aiming to clarify the interaction between two of its earlier standards.