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Financial Accounting Standards Board (FASB) News




FASB Issues New Accounting Rules For Audiovisual Content Producers

by Mike Godfrey, Tax-News.com, Washington

Thursday, March 14, 2019

On March 6, 2019, the Financial Accounting Standards Board issued an Accounting Standards Update that is intended to help organizations align their accounting for production costs for films and episodic content produced for television and streaming services. Read Full Story

 


New Accounting Rules From FASB Deal With Mergers

by Mike Godfrey, Tax-News.com, Washington

Thursday, March 14, 2019

The Financial Accounting Standards Board on February 14, 2019, issued a proposed Accounting Standards Update (ASU) on the recognition and measurement of deferred revenue in business combinations. Read Full Story

 


FASB Seeks To Ease Transition To New Credit Losses Standard

by Mike Godfrey, Tax-News.com, Washington

Monday, February 18, 2019

On February 6, 2019, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would ease transition to the credit losses standard by providing the option to measure certain types of assets at fair value. Read Full Story

 


FASB Issues New Standard For Variable Interest Entities

by Mike Godfrey, Tax-News.com, Washington

Friday, November 2, 2018

The Financial Accounting Standards Board (FASB) on October 31 issued Accounting Standards Update 2018-17, intended to reduce the cost and complexity of financial reporting associated with consolidation of variable interest entities (VIEs), for which consolidation is not based on a majority of voting rights. Read Full Story

 


IRS Prepares For 'Revenue From Contracts With Customers' Standard

by Mike Godfrey, Tax-News.com, Washington

Wednesday, March 29, 2017

The Internal Revenue Service has published a proposed revenue procedure in Notice 2017-17 for taxpayers seeking to change a method of accounting for recognizing income after the adoption of the new financial accounting standards for recognizing revenue (IFRS 15). Read Full Story

 


AICPA Issues Guide On New US Revenue Recognition Rules

by Glen Shapiro, Tax-News.com, New York

Friday, January 6, 2017

The American Institute of Certified Public Accountants has issued the first online edition of its Audit & Accounting Guide on Revenue Recognition in response to the new standards from the Financial Accounting Standards Board. Read Full Story

 


FASB Joins IASB In Lease Accounting Reform

by Mike Godfrey, Tax-News.com, Washington

Tuesday, March 1, 2016

The Financial Accounting Standards Board, which is responsible for US Generally Accepted Accounting Principles, has issued an Accounting Standards Update to require all lessees to report their current lease commitments on their balance sheets. Read Full Story

 


FASB Simplifies Accounting For Cloud Computing Fees

by Leroy Baker, Tax-News.com, New York

Friday, August 22, 2014

As part of its simplification initiative in United States financial accounting and reporting, the Financial Accounting Standards Board has issued a proposed Accounting Standards Update intended to improve the accounting for a customer's fees paid in a cloud computing arrangement. Read Full Story

 


Full US Adoption of IASB Becoming Less Likely: Fitch

by Leroy Baker, Tax-News.com, New York

Wednesday, July 16, 2014

Full adoption by the United States of International Financial Reporting Standards appears unlikely to occur in the intermediate term as the major accounting standard setters continue to move away from full convergence of their standards, according to a Fitch Ratings report. Read Full Story

 


FAF Updates US Accounting Standards Compendium

by Glen Shapiro, LawAndTax-News.com, New York

Thursday, February 23, 2012

The Financial Accounting Foundation has announced the publication of the updated print edition of the Financial Accounting Standard Board's Accounting Standards Codification, the single reference source for US Generally-Accepted Accounting Principles. Read Full Story

 

 

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