Financial Accounting Standards Board Related Content

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 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

FASB Issues Staff Q&A Document on Estimating Credit Loss Reserves

FASB staff issued a question-and-answer document that addresses particular issues related to the weighted average remaining maturity (WARM) method for estimating the allowance for credit losses. read more

2019 GAAP Financial Reporting Taxonomy & SEC Reporting Taxonomy Available

The Financial Accounting Standards Board announced the availability of the 2019 GAAP Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy. read more

FASB Issues Narrow-Scope Improvements to Accounting for Lessors

The Financial Accounting Standards Board issued an Accounting Standards Update expected to reduce lessor’s implementation and ongoing costs associated with applying the new leases standard. read more

FASB Proposal Addresses Sales Tax, Variable Payments and Lessor Costs

On February 25, 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-02, Leases (Topic 842), to increase transparency and comparability while inviting comments due September 12, 2018. read more

FASB Issues Targeted Improvements to Leases Standard

FASB issued an Accounting Standards Update that reduces costs and eases implementation of the leases standard for financial statement preparers. read more

New Survey Finds Most Firms Haven’t Started Lease Accounting Transition

A survey from Robert Half and Protiviti found only 44% of companies have begun the transition to adopt the Financial Accounting Standards Board's new lease accounting standard. read more

KPMG: Implementation Processes Continue for Lease Accounting Standards

According to a KPMG survey, only 15% of companies have completed their implementations in preparation for the looming deadline for compliance with the FASB lease accounting standards. read more

Former FASB Board Member Smith Joins FTI Consulting

Lawrence W. Smith, former board member of the FASB, will join FTI Consulting’s SEC & Accounting Advisory Services practice within its Forensic & Litigation Consulting segment as a senior managing director. read more

Former FASB Chairman Appointed to SASB Board

The Sustainability Accounting Standards Board announced it elected Robert Herz to SASB's board of directors. Herz formerly served as the chairman of the Financial Accounting Standards Board and was one of the original members of the International Accounting Standards Board. read more

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