FASB Proposes Clarification To The Interaction Between The Recognition And Measurement Of Financial

The FASB recently issued a proposed ASU, Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. The proposed ASU is intended to clarify the accounting for equity securities in instances where there are observable transactions that may require the application or discontinuation of the equity method of accounting.

FASB Proposes Improvements Related To Distinguishing Liabilities From Equity

The FASB has issued an exposure draft related to Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.

FASB Updates Various Codification SEC Sections

The FASB issued Accounting Standards Update (ASU) No. 2019-07, Codification Updates to SEC Sections, Amendments to SEC Paragraphs Pursuant to SEC Final Rule Release No. 33-10532, Disclosure Update and Simplification, and Nos. 33-10231 and 33-10442, Investment Company Reporting Modernization, and Miscellaneous Updates.

FASB Proposes Narrow-Scope Improvements To Credit Losses Standard

The FASB recently issued proposed improvements, Codification Improvements to Topic 326, Financial Instruments – Credit Losses. The proposed improvements are intended to clarify the appropriate application of the recently issued ASU 2016-13 regarding credit losses.

Focus on Assurance: FASB Votes To Propose Delay In Effective Dates Of Four ASUs For Certain Entities

The FASB has voted to propose a deferral of the effective dates for several of its recent standards that would provide at least an additional year to companies that have not yet adopted the standards.

FASB Issues Narrow-Scope Improvements To Financial Instruments Standard

The FASB has issued ASU 2019-04 – Codification Improvements to Topic 326, Financial Instruments – Credit Losses; Topic 815, Derivatives and Hedging; and Topic 825, Financial Instruments. The ASU was issued to make clarifications and minor corrections to several recently issued financial instruments standards.

FASB Issues Narrow-Scope Improvements To Financial Instruments Standard

The FASB has issued ASU 2019-04 – Codification Improvements to Topic 326, Financial Instruments – Credit Losses; Topic 815, Derivatives and Hedging; and Topic 825, Financial Instruments. The ASU was issued to make clarifications and minor corrections to several recently issued financial instruments standards.

FASB Issues Proposal To Simplify Accounting For Income Taxes

The FASB has issued an Exposure Draft which attempts to simplify certain aspects of accounting for income taxes. The proposal would remove certain exceptions to existing guidance and would also add provisions that would seek to clarify or simplify current guidance.

FASB Proposes Revised Improvements to Income Tax Disclosure Requirements

The FASB has issued a revised exposure draft, Income Taxes (Topic 740): Disclosure Framework – Changes to the Disclosure Requirements for Income Taxes. The proposed amendments are part of the disclosure framework project, which has an objective to improve effectiveness of disclosures by facilitating clear communication of information that is most important to users. The proposal would remove disclosures that are no longer considered cost beneficial or relevant and add disclosure requirements identified as relevant.

FASB Updates the Definition of Collections

FASB Clarifies Implementation Guidance And Disclosure Requirements In Leases Standard

The FASB recently released its first Accounting Standards Update of 2019, ASU 2019-01 Leases (Topic 842) Codification Improvements. This ASU was released with the intent of clarifying conflicting or unclear guidance within the new leases standard that will be implemented under ASU 2016-02, Leases (Topic 842). 

FASB Proposes Guidance On Measurement Of Share-Based Payments Issued To Customers

The FASB has issued an Exposure Draft for public comment that is intended to address potential diversity in practice related to the measurement of share-based payments awarded to customers in conjunction with the sale of goods and services. 

FASB Issues Proposal And Invitation To Comment On Recognizing And Measuring Deferred Revenue In Busi

The FASB has issued an Exposure Draft that is intended to address diversity in practice related to whether and how to record deferred revenue in a business combination. Current GAAP requires that a deferred liability be recorded in a business combination when the acquirer assumes a legal obligation.

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

The FASB recently issued an Exposure Draft titled Targeted Transition Relief for Topic 326, Financial Instruments—Credit Losses.

FASB Proposes Alternative To Accounting For Goodwill And Certain Identifiable Intangible Assets For

FASB recently issued an Exposure Draft related to potential changes to the treatment of goodwill and certain other intangible assets for not-for-profit entities that would allow not-for-profit entities the same accounting alternatives made available to private for-profit companies.

FASB Proposes Codification Improvements To Lessor Implementation Of New Leases Standard

The FASB has issued a proposal that would address challenges to implementing the FASB’s new lease standard.

FASB Issues Narrow-Scope Improvements To Credit Losses Standard

The FASB recently issued ASU No. 2018-19: Codification Improvements to Topic 326, Financial Instruments – Credit Losses. The ASU intends to clarify the scope of the amendments in ASU No. 2016-13 and to align the implementation date for nonpublic entities’ annual financial statements with the implementation date for their interim financial statements.

FASB Proposes Narrow-Scope Improvements To Financial Instruments Standards

The FASB recently issued an Exposure Draft that is intended to address certain questions that have arisen regarding the implementation of a number of newly issued ASUs related to recognition and measurement of financial instruments, credit losses and targeted improvements to hedge accounting.

FASB Revises New Leases Standard For Lessors

The FASB has issued ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors. The ASU is intended to resolve various implementation questions and issues raised by lessors relative to ASU No. 2016-02, Leases (Topic 842), a pronouncement which significantly modifies the required accounting treatment for leases and which becomes effective on January 1, 2019 for public business entities, and on January 1, 2020 for all other entities.

FASB Approves Practical Expedient For Private Companies To Determine Current Price For Share-Based A

The FASB has issued ASU No. 2021-07, Compensation – Stock Compensation (Topic 715):   Determining the Current Price of an Underlying Share for Equity-Classified Share-Based Awards.