Accounting Standards January 14, 2026
FASB Names New Members to Its Not-for-Profit Advisory Committee
The Financial Accounting Standards Board appointed six new members to its Not-for-Profit Advisory Committee, effective immediately.
August 21, 2014
New GASB Pension Rules are Challenging Many Cities
New standards issued by the Government Accounting Standards Board mean that next summer local governments could see some impact in credit ratings or some influence on pension payments.
August 20, 2014
Review Assesses Implementation of GASB Capital Asset Impairment Standard
An accounting standard for state and local governments that addresses the impairment of capital assets and insurance recoveries provides important information to users of financial statements and resolves some but not all of the issues underlying its purpose.
August 20, 2014
Proposal Would Simplify Accounting for Cloud Computing Fees Paid by Customers
As part of its simplification initiative, the Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update intended to simplify the accounting for a customer’s fees paid in a cloud computing arrangement.
August 8, 2014
AICPA Looks for Ways to Enhance Audit Quality
Building on CPAs’ long-standing commitment to provide high-quality services that protect the public, the American Institute of CPAs (AICPA) has issued a discussion paper for all stakeholders in the audit process of private entities. The discussion paper summarizes the Institute’s multi-faceted effort that is designed to help auditors excel in a fast changing and complex…
July 21, 2014
FASB Redesigns Technical Agenda Website
The Financial Accounting Standards Board (FASB) today relaunched its technical agenda web page to provide a more user-friendly graphic overview of each Board project and enable visitors to better understand how individual projects relate to the Board’s overall activities. The new plan is found at fasb.org/technicalagenda.
July 21, 2014
AICPA Tells Congress to Expand Use of Cash Accounting Method
The American Institute of CPAs has voiced its support for expanding the availability of the cash method of accounting to small businesses.
July 15, 2014
FASB Simplifies Inventory Management Guidelines
As part of an initiative towards simplifying accounting standards, the Financial Accounting Standards Board (FASB) has issued two proposed updates that are meant to ease the measurement of inventory and eliminate the requirements for extraordinary items
July 10, 2014
FASB Seeks Changes to Simplify GAAP
As part of a new initiative to reduce complexity in accounting standards, the Financial Accounting Standards Board (FASB) has added two short-term projects to its agenda to simplify Generally Accepted Accounting Principles (GAAP).
June 24, 2014
Financial Accounting Foundation Names New Member to Board of Trustees
The Financial Accounting Foundation (FAF) today appointed Washington State investment official Gary H. Bruebaker to the FAF Board of Trustees, effective July 1. Bruebaker currently is the chief investment officer for the Washington State Investment Board in Olympia, Washington.
June 18, 2014
GASB Proposes Improvements to State and Local Post Employment Benefits Reporting
On Monday, the Governmental Accounting Standards Board (GASB) published two proposed Statements intended to significantly improve financial reporting by state and local governments of other postemployment benefits (OPEB), such as retiree health insurance. The GASB also published a third Exposure Draft that would establish requirements for pensions and pension plans that are outside the scope…
June 18, 2014
FASB Issues New Standard on Reporting of Repurchase Agreements
The Financial Accounting Standards Board (FASB) has issued a new standard to improve the financial reporting of repurchase agreements and other similar transactions. Accounting Standards Update No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements.
June 10, 2014
Center for Audit Quality Supports PCAOB Efforts
Improved audit quality is a goal being pursued by the Public Company Accounting Oversight Board (PCAOB), and a non-partisan audit advocacy group is supporting its recent efforts.