FASB to Take Up Digital Currencies Question
Current GAAP accounting prohibits a business from showing the true value of its crypto assets, say critics.
Virus Relief Bill Delays CECL Rule for Banks
Congress makes a rare intervention to delay when large public banks must change how they account for losses on souring loans.
FASB Turns Up the Heat on Goodwill Impairment Testing
The accounting standard setter's apparent lean toward allowing public companies to amortize goodwill ignores key analytical and economic consequences.
EY Partner Named New FASB Chair
“Rich Jones brings together all of the important qualities we were looking for in FASB’s next leader,” said FAF Chairman Charles H. Noski.
Investors Want a Clear Story on CECL. Are CFOs Ready to Tell It?
Communicating credit risk model changes to investors may be the most challenging aspect of the new Current Expected Credit Loss accounting standard.
Bridging the Gaps in GAAP
Here are eight critical considerations for combating the creativity crisis in accounting.
FASB Proposes Later Standards Deadlines for Private Companies
The Financial Accounting Standards Board says it wants to make a two-year stagger of implementation deadlines standard practice.
Libor’s Phase-Out: 3 Ways to Prepare
Derivatives and hedge accounting, intercompany loans, valuation models — all will be affected by the shift away from Libor.
FASB Gives Private Companies Breathing Room on Lease Accounting
FASB members voted unanimously to propose moving back the effective date for lease accounting and two other major new accounting standards.
Goodwill Impairment Testing: Time to Revisit?
FASB’s invitation to comment on goodwill accounting lays out possible cases for doing away with or improving impairment testing.
AICPA Urges Delay of Lease Accounting Rules
FASB should postpone the effective date of the “significant and complex” ASC 842 for a year for private companies, AICPA says.