The FASB issued a proposed Accounting Standards Update (ASU) that would extend the period of time preparers can utilize the reference rate reform relief guidance and expand the SOFR-based interest rates available as benchmark interest rates. read more

APR 21, 2022 - 7:34 am

The Financial Accounting Standards Board rescheduled the date of its public roundtable discussion on the implementation of its accounting standard on leases. The virtual roundtable will take place on Friday, Sept. 18, 2020, in two sessions. read more

JUL 24, 2020 - 7:14 am

ELFA’s webinar addressed modification accounting, application of FASB COVID-19 related relief and operational considerations when modifying contracts. read more

JUN 3, 2020 - 6:50 am

Registration is open for the upcoming FASB webcast that will provide a semi-annual update on standard-setting activities pertaining to private companies and not-for-profit organizations. read more

MAY 26, 2020 - 6:30 am

The Wall Street Journal reported that the FASB extended the time to implement new accounting rules for some private companies and non-profits. read more

MAY 21, 2020 - 6:40 am

ELFA submitted a comment letter to the FASB supporting a one-year effective date delay for certain stakeholders applying leases and revenue recognition guidance. read more

MAY 6, 2020 - 6:32 am

The Financial Accounting Standards Board staff issued a Q&A document to address stakeholder questions on the application of the lease accounting guidance for concessions related to COVID-19. read more

APR 13, 2020 - 6:30 am

FASB will issue a proposal to provide certain private companies and not-for-profit organizations with an optional, one-year effective date delay of the leases standard. read more

APR 9, 2020 - 6:40 am

The Financial Accounting Standards Board will discuss plans to support stakeholders as they navigate the impact of the pandemic at its April meeting. read more

APR 2, 2020 - 6:30 am

The Fed, FDIC, NCUA, OCC, CFPB and state banking regulators issued an interagency statement for financial institutions working with borrowers affected by the coronavirus. FASB concurs with the approach. read more

MAR 23, 2020 - 7:00 am

The Financial Accounting Standards Board issued an Accounting Standards Update that provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. read more

MAR 13, 2020 - 6:50 am

The Financial Accounting Standards Board postponed the date of its public roundtable discussion on the implementation of its accounting standard on leases. read more

MAR 13, 2020 - 6:30 am

The FASB issued an Accounting Standards Update that makes narrow-scope improvements to various aspects of the financial instruments guidance. read more

MAR 10, 2020 - 5:25 am

The Financial Accounting Standards Board scheduled a public roundtable discussion on April 9 to discuss the implementation of its accounting standard on leases. read more

MAR 6, 2020 - 6:30 am

The FASB issued an accounting standards update that clarified the interaction between accounting standards related to equity securities, equity method investments, and certain derivatives. read more

JAN 21, 2020 - 6:25 am