FASB Related Content

FASB Issues Narrow-Scope Improvements to Credit Losses Standard

The FASB issued an ASU that addresses issues raised by stakeholders during the implementation of an Accounting Standards Update regarding the measurement of credit losses on financial instruments. read more

FASB Names Six New Members to Not-for-Profit Advisory Committee

The Financial Accounting Standards Board appointed six new members to its Not-for-Profit Advisory Committee, effective January 1, 2020. read more

FASB Delays Effective Dates for Credit Losses, Leases, Other Standards

The FASB issued two ASUs that finalize various effective date delays for standards on current expected credit losses, leases, hedging and long-duration insurance contracts. read more

FASB Approves Finalization of Guidelines for LIBOR Transition

The FASB approved an ASU to provide temporary, optional guidance to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial reporting. read more

FASB Appoints Zabreyko to Emerging Issues Task Force

The Financial Accounting Standards Board appointed Aleks Zabreyko to its Emerging Issues Task Force, effective immediately. read more

FASB Approves Proposed Effective Date Delays

The FASB approved its August 2019 proposal to grant private companies, non-profits and certain small public companies various effective date delays on its credit losses, leases, and hedging standards. read more

Deloitte: Lease Accounting Implementation Still Incomplete at Most Companies

Just 26.3% of public company executives report that their implementation of the FASB and IASB lease accounting standards is complete, according to a June 2019 Deloitte poll. read more

FASB Proposes Guidance Update on Transition From LIBOR

The FASB issued a proposed accounting standards update that would provide temporary optional guidance in accounting for, or recognizing the effects of, reference rate reform on financial reporting. read more

Financial Accounting Foundation Names Morrow New FASAC Chair

The Board of Trustees of the Financial Accounting Foundation appointed Michael M. Morrow the new chair of the Financial Accounting Standards Advisory Council, effective January 1, 2020. read more

FASB Seeks Public Comment on CECL Implementation Delay

The FASB is seeking public comments on a proposal that would grant certain private companies and organizations more time to implement FASB standards on current expected credit losses, leases and hedging. read more

FASB Votes to Extend CECL Implementation for Some Lenders

The Wall Street Journal reported that the FASB has proposed to extend by three years the implementation deadline of CECL for small public lenders, private lenders and nonprofits. read more

FASB Issues Targeted Transition Relief To Institutions Applying The Credit Losses Standard

The Financial Accounting Standards Board issued an Accounting Standards Update (ASU) that eases transition to the credit losses standard by providing the option to measure certain types of assets at fair value. read more

Professional Orgs to FASB: We’re Not Ready for New Lease Accounting Rules

The Wall Street Journal reported that the American Institute of Certified Public Accountants and the Associated General Contractors of America asked FASB to delay the new lease accounting rules for private companies by one year. read more

FASB Clarifies Implementation, Disclosure Requirements in Leases Standard

The FASB issued an Accounting Standards Update that addresses two lessor implementation issues and clarifies that lessees and lessors are exempt from a certain interim disclosure requirement associated with adopting the new leases standard. read more

FASB Proposes New ASU on Deferred Revenue

The Financial Accounting Standards Board proposed an Accounting Standards Update (ASU) and Invitation to Comment (ITC) on the recognition and measurement of deferred revenue in business combinations. read more

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