Private companies in the U.S. are still adjusting to the lease accounting standard that took effect last year, even as international standard-setters are proposing new rules for the public sector. In ...

The Financial Accounting Standards Board (FASB) finalized the new rules on Dec. 13. The FASB is the organization that sets accounting and reporting standards for the U.S.

The Financial Accounting Standards Board is making plans for its future projects, including digital assets, intangibles, government grants, and accounting for financial instruments with environmental, ...

The SEC’s Chief Accountant Paul Munter, released a statement “Accounting Standard Setting in a Rapidly Evolving Business Environment: A Focus on the Timely Delivery of Investor Priorities ...

As per the Financial Accounting Standards Board updated accounting standards, ASC 842 requires that all leases, whether operating or finance, be recognized on a company's balance sheet as right-of ...

After several years of delay and extended implementation dates, the new lease standard (FASB ASC Topic 842) is finally effective in 2022 for most private companies.

Accounting principles help hold a company’s financial reporting to clear and regulated standards. In the United States, these standards are known as the Generally Accepted Accounting Principles ...

By Mandi Simpson, CPA, and Kristin Orrell, CPA Given new standards, changes in the economy, and corporate trends, accounting and financial reporting seem to grow more complex every year.

When the IMR accounting standard was developed in 1992, it was supposed to function in declining and a rising interest rate environments, but the NAIC did not finish the work of addressing high ...

The Financial Accounting Standards Board scrapped plans to consider new rules on how companies account for and disclose goodwill, a blow to businesses and investors that have sought improvements ...

The Financial Accounting Standards Board on Wednesday said it would add the project to the technical agenda featuring its rule-making priorities, which might produce a new rule U.S. companies ...

In 2012, the enactment of Public Finance Management Act led to the setting up of the Public Sector Accounting Standards Board (PSASB) that would formulate accepted standards for the development ...