Accounting Standards
Latest News
Starting in 2025, the IRS Will Accept Duplicate Dependent Returns With an IP PIN
House Tax-Exempt Crackdown Bill Passes Despite Democrat Defections
Retailers Tell Senate Credit Card ‘Swipe’ Fees are ‘Adding Inflationary Pressure to the U.S. Economy’
The Top Toys and Gifts for the 2025 Christmas and Holiday Season
FASB Improves Certain Transition Requirements in Long-Duration Insurance Rules
The Accounting Standards Update approved by the FASB on Dec. 15 amends transition guidance in ASU No. 2018-12.
2023 GAAP Financial Reporting Taxonomy is Now Available, FASB Says
The 2023 GAAP Financial Reporting Taxonomy is expected to be accepted as final by the SEC in early 2023.
FASB Looks to Tweak Guidance for Leases Under Common Control
Comments on the proposed Accounting Standards Update can be submitted until Jan. 16, 2023.
FASB Proposes New Conceptual Framework Chapter on Recognition and Derecognition
Stakeholders are encouraged to review and provide comment on the proposed chapter by Feb. 21, 2023.
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NASBA Announces 2022-23 Board of Directors
The National Association of State Boards of Accountancy (NASBA) announces members of its Board of Directors for 2022-2023. Members were installed during NASBA’s 115th Annual Meeting, held Oct. 30 – Nov. 2, 2022, in San Diego, CA.
FASB Seeks to Amend Accounting Rules for Joint Ventures
The proposed ASU would give investors more information about a joint venture’s separate financial statements.
FASB Proposes New Chapter—the Reporting Entity—for Its Conceptual Framework
Stakeholders are asked to provide input on the characteristics of a reporting entity by Jan. 16, 2023.
FASB Decides on Accounting Method for Crypto Assets
Companies should measure crypto assets, like Bitcoin and Ethereum, using fair value accounting, the FASB said.