The Financial Accounting Standards Board approved a tweak to the goodwill rules for private businesses and not-for-profits, giving them more flexibility on when to do impairment assessments of triggering events.
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Feed SubscriptionFASB simplifies revenue rules for franchises
The Financial Accounting Standards Board released an accounting standards update Thursday, giving franchisors a practical expedient way to determine their performance obligations under a franchise agreement.
Read More »The biggest stories in accounting for 2020
The pandemic reshaped the profession throughout the year — and will continue to do so in 2021.
Read More »FASB releases 2021 taxonomies
The SEC Reporting Taxonomy and GAAP taxonomy still need to be approved by the SEC.
Read More »FASB aims to clarify accounting for acquired revenue contracts
The board’s proposed ASU offers specific guidance on certain recognition and timing issues.
Read More »Ed Jenkins, former FASB chair, dies at 85
The Andersen alum served as standard-setter in the midst of the dot-com crash.
Read More »FASB deals with uncertainties from pandemic and election
Having started his transition at the beginning of the pandemic, Board Chair Richard Jones now faces the uncertainty of the presidential election and what Congress might do with accounting standards.
Read More »FASB delays insurance standard, focuses on post-implementation reviews
The board has voted to defer the effective date of its long-duration insurance contract standard for one year in response to the pandemic.
Read More »FASB’s new chairman plans review of impact of standards
Richard Jones is making post-implementation reviews of standards one of his top priorities, and taking a closer look at FASB’s crowded agenda.
Read More »FASB opens portal for post-implementation reviews of standards
Post-implementation reviews enable FASB to identify and deal with any areas for improvement stemming from either adoption or implementation of a standard.
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