FASB Votes to Delay Effective Dates for Major Standards
FASB recently voted unanimously to delay effective dates for private companies and certain other entities for standards on accounting for leases, credit losses and hedging.
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AICPA Issues New Forensic Accounting Standards
The AICPA recently issued new professional standards for members who perform forensic accounting services engagements.
View MoreFASB Looking at Delaying Standards for Private Companies and Nonprofits for Two Years
FASB is considering giving accountants at privately held companies and nonprofit organizations an extra two years to implement standards, instead of the one year it sometimes extends them.
View MoreGASB Establishes Guidance to Assist with Implementation and Application of Various Pronouncements
The Governmental Accounting Standards Board recently issued guidance intended to clarify, explain, or elaborate on the implementation and application of certain GASB Statements.
View MoreIRS Modifies and Supersedes Revenue Procedure 2018-52
The IRS recently announced Revenue Procedure 2019-19 will modify and supersede Rev. Proc. 2018-52, 2018-42 I.R.B. 611, which sets forth the Employee Plans Compliance Resolution System (EPCRS).
View MoreFASB Proposes Revised Improvements to Income Tax Disclosure Requirements
The Financial Accounting Standards Board recently issued a revised proposed Accounting Standards Update intended to improve the relevance of current income tax disclosure requirements to financial statement users.
View MoreFASB Clarifies Implementation Guidance and Disclosure Requirements in Leases Standard
The Financial Accounting Standards Board recently 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.
View MoreFASB Issues Proposal and Invitation to Comment on Deferred Revenue in Business Combinations
FASB recently issued a proposed Accounting Standards Update and Invitation to Comment on the recognition and measurement of deferred revenue in business combinations.
View MoreFASB Proposes Transition Relief for Credit Losses Standard
FASB recently proposed a standard that is designed to ease the transition to its new credit losses standard by providing an option to measure certain types of assets at fair value.
View MoreFASB Issues Narrow-Scope Improvements to Accounting for Lessors
The Financial Accounting Standards Board recently issued an Accounting Standards Update expected to reduce lessor’s implementation and ongoing costs associated with applying the new leases standard.
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