FASB

The Financial Accounting Standards Board voted Wednesday to propose to delay some of its major accounting standards — including credit losses, leases, hedging and long-duration insurance contracts — for private companies, nonprofits and small reporting companies.

Much of the focus has been on banks and credit unions, but others may be hit by the new standard, too.

The Financial Accounting Standards Board has issued an invitation to comment document asking for input from its constituents on the accounting for certain identifiable intangible assets acquired in a business combination and the subsequent accounting for goodwill.

The new rules adjust accounting to an age when viewers are streaming video online and binge watching their favorite series.

The Financial Accounting Standards proposed some minor adjustments Thursday to the credit losses standard, also known as CECL because of its use of a Current Expected Credit Losses model.

The board is looking for public companies to take part in a study focusing on potential improvements to the segment disclosure requirements.

The standard-setter plans to offer accounting relief to companies that need to modify their contracts as banks move the global reference rates for loans and more.

The Financial Accounting Standards Board is considering giving privately held companies and not-for-profit organizations an extra two years to implement standards.

Sandy Peters, head of financial reporting policy advocacy at the CFA Institute, talks about some of the most important points for investors and accountants to consider under the new standard on leases.

Deputy chief accountant Sagar Teotia will serve as an interim successor.

The update reduces the cost of accounting for goodwill and measuring certain identifiable intangible assets for not-for-profit organizations.

Many banks and financial institutions are encountering challenges in preparing for the Financial Accounting Standards Board’s credit losses standard, according to a new survey.

The American Institute of CPAs honored James Leisenring, senior advisor to FASB, with the organization's highest honor.

The clarification might lead to problems for some museums.

The Financial Accounting Standards Board is giving banks some leeway in applying the new credit losses standard.

The Financial Accounting Standards Board has released a proposed accounting standards update to reduce the cost and complexity of accounting for income taxes.

The Institute wants to postpone the effective date of its new leases standard for one year, citing an overload for financial statement preparers.

With more than three-quarters of public companies already past the effective date, the spotlight is now on private companies.

The Center for Audit Quality has introduced a new guide to assist audit committees at overseeing their companies efforts to comply with the new credit losses accounting standard.

The American Institute of CPAs released non-authoritative guidance to help nonprofit organizations deal with a recent accounting standard on collections.