Financial Accounting Standards Board Related Content

FASB Proposes Updates to Reference Rate Reform Guidance

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

FASB Proposes to Enhance Transparency Around Supplier Finance Programs

The Financial Accounting Standards Board issued a proposed accounting standards update intended to help investors and other allocators of capital better consider the effect of supplier finance programs on a buyer’s working capital, liquidity and cash flows. read more

FASB Proposes Expanded Disclosures and Improved Accounting Related to Credit Losses Standard

The Financial Accounting Standards Board issued a proposed accounting standards update intended to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings and write-offs. read more

FASB Issues Update to Improve Transparency Around Government Grants

The Financial Accounting Standards Board issued an accounting standards update that requires businesses to disclose, in notes to their financial statements, information about certain types of government assistance they receive. read more

FASB Improves Discount Rate Guidance for Non-Public Lessees

The Financial Accounting Standards Board issued an accounting standards update that improves 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 Proposes Changes to Interim Disclosure Requirements

The Financial Accounting Standards Board issued a proposed accounting standards update that would modify the disclosure requirements for interim financial reporting. Stakeholders are encouraged to review and provide comment on the proposal by Jan. 31. read more

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

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