FASB

The elimination of Step 2 in FASB's goodwill impairment test may result in more frequent reporting of impairment, as well as a change in the magnitude of the impairment charge.

The Financial Accounting Standards Board published a proposed accounting standards update Tuesday to clarify and get rid of some specific inconsistencies in key parts of GAAP.

The Financial Accounting Standards Board has released its long-awaited hedging standard, the final component of its financial instruments convergence project with the International Accounting Standards Board.

The board is seeking comment on a proposed Accounting Standards Update

The Financial Accounting Standards Board voted Thursday to add three more projects to its technical agenda in the areas of liabilities and equity, financial performance reporting, and segment reporting.

The Financial Accounting Standards Board has created a new web page to help companies implement its new standards.

The Financial Accounting Standards Board proposed a GAAP Financial Reporting Taxonomy and, for IFRS filers, a Shared Reporting Taxonomy on Tuesday, asking for public comments on the files.

The revenue recognition standard that takes effect next year could help health care providers and regulators identify instances of Medicare and Medicaid fraud by subjecting their financial statements to new scrutiny, although in some ways the new rules could also spur some forms of fraud.

The Financial Accounting Standards Board released its long-awaited hedge accounting standard this week, but companies may want to be careful about adopting it early, or else they could miss out on some one-time benefits.

The Internal Revenue Service has signed a contract with a company called Chainalysis that offers software for analyzing and tracking bitcoin transactions.

The Securities and Exchange Commission has released a staff accounting bulletin to conform its existing staff guidance to the new revenue recognition standard that takes effect for public companies at the end of the year.

FASB recently proposed new guidance on nonprofit accounting for contributions and grants; in this podcast, AICPA associate director and nonprofit expert Chris Cole walks us through what it means.

Thomson Reuters has issued PPC’s Guide to Revenue Recognition, a new publication providing guidance to accountants and their clients on the Financial Accounting Standards Board’s new revenue recognition standard.

Companies like Facebook and Google parent Alphabet are seeing a significant drop in their GAAP tax rate.

The proposed ASU would apply to more than just nonprofit organizations.

Nearly half of corporate executives are concerned about their ability to implement the lease accounting standards, according to a survey by Deloitte.

Nothing stands in the standard-setters way except itself.

A group of 16 House Democrats has sent a letter to the Financial Accounting Standards Board asking it to require multinational companies to disclose more country-by-country reporting information in their public financial statements about where they pay taxes and book profits.

Extensible Business Reporting Language is starting to become more widely used, thanks to the SEC’s rules requiring the use of XBRL in financial filings in recent years and a new rule requiring XBRL for foreign issuers.

The Financial Accounting Standards Board has released an accounting standard update aimed at simplifying the accounting for financial instruments that have so-called “down round” features.