FASB Clarifies the Scope of Reference Rate Reform Guidance
The FASB clarifies the scope of recent reference rate reform guidance through a new ASU issuance today. In March 2020, the FASB issued guidance aimed…
read more
FASB Delays Long-Duration Insurance Guidance and Eases Early Adoption Provisions
The FASB issues an Accounting Standards Update (ASU) that delays and eases early adoption provisions for long-duration insurance guidance to help insurance companies adversely affected…
read more
FASB Issues Proposal to Clarify Scope of Reference Rate Reform Guidance
The FASB issues proposal clarifying the scope of reference rate reform guidance today. Stakeholders interested are to provide input on the proposed ASU by November…
read more
FASB Codification Updated to Reflect SEC Guarantor Financial Disclosures
The FASB issued Accounting Standards Update (ASU) No. 2020-09, Debt (Topic 470): Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762. This ASU amends…
read more
FASB Proposes Improvements to the Leases Standard
The FASB proposes an Accounting Standards Update (ASU) intended to improve three areas of the leases standard. Stakeholders are encouraged to review and provide comments…
read more
FASB Offers Limited Effective Date Delays on Revenue Recognition and Leases Standards
The FASB issues an Accounting Standards Update (ASU) that offers limited effective date delays on revenue recognition and leases standards. It grants a one-year effective…
read more
FASB Decides to Extend Effective Date of Revenue Recognition and Leases Standards for Certain Entities
The FASB met on Wednesday, May 20, 2020 and voted to extend the effective date of Topics 606, Revenue from Contracts with Customers, and 842,…
read more
FASB Proposes Delay for Leases and Revenue Recognition
The FASB issues a proposed Accounting Standards Update (ASU) that grants a one-year effective date delay for certain stakeholders applying the leases and revenue recognition…
read more
FASB Plans to Address Standard-Setting Issues During the Coronavirus
The FASB is monitoring and responding to the COVID-19 (coronavirus) pandemic situation and is committed to supporting and assisting its stakeholders during this difficult time.…
read more
The CARES Act Provides Temporary Relief from CECL Standard
The CARES Act (the “Act”) provides temporary relief from FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments —Credit Losses (Topic 326): Measurement of Credit…
read more