Accounting Standards

The proposal would establish rules on the recognition, measurement, and presentation of a government grant received by a business.

An invitation to comment was issued on Nov. 14 as part of the FASB's research project on financial KPIs for business entities.

A proposal issued on Nov. 13 is intended to provide stakeholders some clarity on the current interim reporting requirements.

The tactics led a Virginia federal court judge to conclude that an “awful lot of evidence has likely been destroyed,” and provoked a San Francisco federal court judge to criticize Google for lying to the court and deliberately hiding evidence from opponents.

While S Corporations and Limited Liability Companies (LLCs) are similar because they provide liability protection for business owners and allow for pass-through tax treatment, there are many differences as to how they are operated, complied with, and taxed.

The FASB listened to investor requests by requiring public companies to disclose more information about certain expenses.

The determination of the accounting acquirer can significantly affect the carrying amounts of the combined entity’s assets and liabilities, which can affect the combined entity’s post-transaction net income.

The updated rules would enhance the transparency of an entity's cash flows related to internal-use software costs, the FASB says.