FASB Archives - CFO

The Most-Read CFO Stories of 2021

The Most-Read CFO Stories of 2021

The 10 CFO stories that finance executives found the most compelling this year.

By Vincent Ryan | December 20, 2021

Is Goodwill Accounting’s Future in the Past?

Corporate Finance

Is Goodwill Accounting’s Future in the Past?

Investors don't want to go back to an amortization model, but that's the way FASB is leaning.

By Vincent Ryan | December 15, 2021

CFO Appointed to FASB’s Private Company Council

Growth Companies

CFO Appointed to FASB’s Private Company Council

The Financial Accounting Foundation also reappointed former Cummins controller Marsha L. Hunt to the Financial Accounting Standards Board.

By Vincent Ryan | November 16, 2021

FASB Launches Agenda Consultation Project

Revenue Recognition

FASB Launches Agenda Consultation Project

The first in five years, the project seeks comments about the Financial Accounting Standards Board's future standard-setting agenda.

By Vincent Ryan | June 28, 2021

FASB Gives Private Companies Goodwill Accounting Break

FASB Gives Private Companies Goodwill Accounting Break

Assessments and tests for goodwill impairment can be left until the end of the reporting period.

By Vincent Ryan | March 31, 2021

FASB Chair Jones Looks Ahead

FASB Chair Jones Looks Ahead

Seven months in, Richard R. Jones gives his perspective on cryptocurrencies, climate risk disclosures, and possible goodwill accounting changes.

By Vincent Ryan | March 18, 2021

FASB to Take Up Digital Currencies Question

Growth Companies

FASB to Take Up Digital Currencies Question

Current GAAP accounting prohibits a business from showing the true value of its crypto assets, say critics.

By Vincent Ryan | October 21, 2020

Virus Relief Bill Delays CECL Rule for Banks

Accounting Standards

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.

By Matthew Heller | March 27, 2020

FASB Turns Up the Heat on Goodwill Impairment Testing

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.

By David McCann | February 12, 2020

EY Partner Named New FASB Chair

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.

By Vincent Ryan | December 20, 2019

Investors Want a Clear Story on CECL. Are CFOs Ready to Tell It?

Risk & Compliance

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.

By David McCann | October 23, 2019

Bridging the Gaps in GAAP

Bridging the Gaps in GAAP

Here are eight critical considerations for combating the creativity crisis in accounting.

By David McCann | October 16, 2019

FASB Proposes Later Standards Deadlines for Private Companies

Growth Companies

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.

By Vincent Ryan | August 16, 2019

Libor’s Phase-Out: 3 Ways to Prepare

Credit & Capital

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.

By Vincent Ryan | August 12, 2019

FASB Gives Private Companies Breathing Room on Lease Accounting

Lease Accounting

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.

By Vincent Ryan | July 17, 2019