Financial Accounting Standards Board Related Content

FASB Issues Standard to Improve Lessors’ Accounting for Certain Leases with Variable Lease Payments

The Financial Accounting Standards Board issued an accounting standards update intended to improve an area of the leases guidance related to a lessor’s accounting for certain leases with variable lease payments. read more

FASB Appoints New Members to Emerging Issues Task Force

The Financial Accounting Standards Board appointed Jack Ciesielski and Brandon Coleman to its emerging issues task force. Ciesielski is a CPA and a CFA and the founder of R.G. Associates. Coleman is a partner in national office accounting and reporting services at Deloitte. read more

FASB Proposes Improvements to Discount Rate Guidance for Non-Public Lessees

The Financial Accounting Standards Board issued a proposed accounting standards update that would improve discount rate guidance for lessees that are not public business entities, including private companies, not-for-profit organizations and employee benefit plans. read more

FASB to Host Virtual Credit Losses Roundtable on May 20

The Financial Accounting Standards Board will host a virtual roundtable on the implementation of the current expected credit losses (CECL) standard and related technical issues. The event will be webcast live at fasb.org on May 20 from 9 a.m. to 12 p.m. EST. read more

FASB Appoints New Members to Emerging Issues Task Force

The Financial Accounting Standards Board appointed Dan Palomaki and Jay Seliber as the newest members of its emerging issues task force (EITF). read more

FASB Proposes Improvements to Accounting for Revenue Contracts in Business Combinations

The Financial Accounting Standards Board issued a proposed accounting standards update intended to address inconsistency and diversity in practice related to the accounting for revenue contracts with customers acquired in a business combination. read more

ELFA Releases Key Takeaways From FASB Meeting on Leases Standard

The Equipment Leasing and Finance Association released key takeaways from the Dec. 2 meeting of the Financial Accounting Standards Board. These takeaways were prepared by John Bober, chair of the ELFA financial accounting committee. read more

FASB Paper Helps Stakeholders Apply Borrower’s Accounting for Debt Restructurings

The Financial Accounting Standards Board released a FASB staff educational paper that provides stakeholders with a summary and overview of a debtor’s application of guidance on debt restructurings and modifications. read more

FASB Names Rotherham to Small Business Advisory Committee

The Financial Accounting Standards Board appointed James Rotherham to its small business advisory committee. Rotherham is an audit partner with Baker Tilly in San Diego. read more

FASB Issues Proposal to Clarify Scope of Recent Reference Rate Reform Guidance

The Financial Accounting Standards Board issued a proposed accounting standards update that would clarify the scope of the FASB’s recent reference rate reform guidance. Stakeholders are asked to review and provide input on the proposed ASU by Nov. 13. read more

FASB Proposes Clarifications to Accounting for Modifications of Equity-Classified Forwards

The FASB issued a proposed accounting standards update that would clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified forwards and options (for example, warrants) that remain equity classified after modification. read more

FASB Proposes Three Targeted Improvements to the Leases Standard

The Financial Accounting Standards Board issued a proposed accounting standards update intended to improve three areas of the leases guidance. Stakeholders are encouraged to review and provide comments on the proposed changes by Dec. 4. read more

Salo Named Technical Director of Financial Accounting Standards Board

The Financial Accounting Standards Board appointed Hillary H. Salo to the role of director of technical activities and chair of the Emerging Issues Task Force. read more

FAF Improves Post-Implementation Review Process for Accounting Standards

The FAF Board of Trustees adopted improvements to the Post-Implementation Review process for new accounting standards created by the FASB and GASB. read more

ELFA Submits Comment Letter to FASB

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

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