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Items tagged with "FASB"

FASB Roundtable on Goodwill

More news on accounting for goodwill this week as the US’s Financial Accounting Standards Board (FASB) announced it will be hosting a public roundtable discussion to gather views on its recent Invitation to Comment (ITC) on Identifiable Intangible Assets and Subsequent Accounting for Goodwill. The roundtable will be held on 15 November 2019 and give […]

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FASB Proposes Update to Ease LIBOR Transition

With global markets expected to move away from discredited interbank offered rates such as LIBOR by 2022, the Financial Accounting Standards Board (FASB) have issued a proposed Accounting Standards Update (ASU). The update is designed to provide temporary and optional accounting relief that should ease the extra burden associated with accounting for contracts affected by […]

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FASB Propose SEC Taxonomy Update

The Financial Accounting Standards Board (FASB) recently released a draft proposal for technical and other conforming improvements to the SEC 2020 taxonomy. The changes include improvements to four standard labels, improvements to four documentation labels and eight new elements. The proposal is open for comment until 8 November 2019. Interested parties should email their comments […]

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Why are Leases Important for Investors?

In January 2019 the US’s Financial Accounting Standards Board’s (FASB) new standard on leases, ASC 842, came into effect, requiring companies to report leasing costs on their balance sheet. But why is lease accounting important for investors and analysis? In a helpful article on Value Walk last week Christine Tan outlined the significance of the […]

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FASB Release 2019 Taxonomy

The Financial Accounting Standards Board (FASB) earlier this week announced that the 2019 GAAP Financial Reporting Taxonomy and 2019 SEC Reporting Taxonomy (SRT) are both available. The GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements. The 2019 SRT contains elements necessary to meet SEC requirements for financial schedules, condensed consolidating financial information for guarantors, […]

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FASB Taxonomy Updates

The Financial Accounting Standards Board (FASB) has issued a new release note describing taxonomy improvements for the 2019 GAAP Financial Reporting Taxonomy.

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Recruiting: Taxonomy Software Developer

The FASB is looking for a Software Developer to develop and maintain software systems for the US GAAP Financial Reporting Taxonomy.

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FASB Taxonomy Updates

The Financial Accounting Foundation (FAF) and the Financial Accounting Standards Board (FASB) have issued release notes describing the proposed technical improvements to the 2018 US GAAP Financial Reporting Taxonomy. The release notes address technical improvements to the 2018 taxonomy based on public comments, common reporting practices, improving utility, reducing inconsistencies and enhancing the intended uses […]

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Case Study In The Changing Use of Structured Data: Lease Accounting

This is the seventh in a series of guest posts from Mohini Singh, ACA, Director, Financial Reporting Standards, CFA Institute. In my latest paper, Data & Technology: How Information Is Consumed In The New Age, we take a deep dive into how structured data is being consumed and refute the claim by some that structured […]

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Investors Tell the FASB: Segment Disclosures Need Improving

A recent Chartered Financial Analyst (CFA) Institute survey indicates that segmented reporting information is critical to investors, yet disclosures need improving dramatically. Recent exchanges between investors and tech giants such as Amazon and Alphabet (aka Google) show the struggle: Amazon and Alphabet cloak the performance of important sections of their business such as Alexa, Amazon […]

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