Accounting Standards
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FASB Approves New Accounting Rules for Joint Ventures
The ASU, issued by the FASB on Aug. 23, provides specific guidance on the accounting for joint venture formations.
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FASB Seeks Public Comment on Proposal to Improve Disclosures around Income Statement Expenses
The proposed ASU would require public companies to provide detailed disclosure of specified categories underlying certain expense captions in interim and annual periods.
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IASB Seeks Input for Review of Accounting Standard on Revenue
The accounting standard was developed jointly with the U.S. Financial Accounting Standards Board and came into effect in 2018.
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No Escape: How to Live with the New Lease Accounting Standards
While ASC 842, IFRS 16, and GASB 87 aren’t making anyone’s life easier, there are some exceptions to the rules.
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FASB Plans Changes to Acquired Financial Asset Reporting
The proposal would eliminate the “double count” that occurs under current expected credit loss (CECL) accounting.
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FASB Seeks to Add Guidance on Profits Interest Awards
Proposal would help companies determine whether these awards should be accounted for as a share-based payment arrangement.
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FASB Updates Rules on Common-Control Leases
The guidance pertains to applying the leases standard to related party arrangements between entities under common control.
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FAF is Now Allowing You to Tattle on the FASB and GASB
Stakeholders can flag for the Financial Accounting Foundation alleged due-process failures made by the FASB and GASB.