FASB Requires Timelier Recording of Credit Losses
The big change is being referred to as the institution of 'Day 1 Loss' reporting, according to board member Hal Schroeder.
Firms Slow to Implement New Revenue Standard
Less than 29% of corporate financial preparers polled by KPMG say their companies have a clear plan to make the change in revenue recognition.
New Lease Standards May Demand Two Sets of Books
The just released IASB lease accounting standard and its forthcoming FASB counterpart call for different expense accounting methods.
Companies Should Update Lease Accounting Systems, Experts Advise
FASB’s vote to proceed with its new standard for reporting lease obligations starts the clock ticking.
What the Delay of FASB’s Revenue Recognition Standard Means
The revenue recognition rule doesn't mean that companies should wait to start their implementation efforts.
EC Stands Behind IASB Accounting Rules
Report finds that IFRS helped more than harmed during the 2007-09 banking crisis.
Five Steps to Revenue Recognition Tax Woes
FASB’s new revenue recognition standard could spawn costly changes in corporate tax compliance.
Answers Needed for Flaws in M&A Accounting Standard
How the IFRS standard for business combinations values intangible assets should be rethought, some say.
How to Mitigate the Impact of New Lease Accounting Rules
It's not too early to start looking into responses to the rule changes, which take effect in 2018.
IASB Member Sees Revenue Rule Delay As Inevitable
"It's pretty obvious there's going to have to be a deferral," says IASB member Patrick Finnegan.
IASB Goes Its Own Way on Lease Accounting
The global accounting standards setter rejects FASB's dual model for reporting leases, putting another nail in the coffin of convergence.