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FASB issues update on modification accounting for share-based payment awards In a new accounting standard recently issued, The Financial Accounting Standards Board (FASB) hopes to provide clarity by offering guidance on the scope of modification accounting for share-based payment awards. Accounting Standards Update No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting, gives direction […]
New rules for accounting for amortization of premiums for purchased callable debt securities The Financial Accounting Standards Board (FASB) recently made targeted changes to the rules governing accounting for amortization of premiums for purchased callable debt securities. The changes are described in Accounting Standards Update No. 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium […]
FASB changes presentation of defined benefit costs The Financial Accounting Standards Board (FASB) recently issued an accounting standard that is designed to increase the transparency and usefulness of information about defined benefit costs for pension plans and other post-retirement benefit plans presented in employer financial statements. The rules changes are described in Accounting Standards Update […]
ASB issues new going concern auditing standard Accounting and auditing standards for going concern recently achieved greater harmony when the AICPA Auditing Standards Board (ASB) issued Statement on Auditing Standards (SAS) No. 132, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern. read more […]
The FASB clarifies definition of a business The Financial Accounting Standards Board (FASB) recently clarified the definition of a business in an effort to help financial statement preparers evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The clarification is described in Accounting Standards Update No. 2017-01, Business Combinations […]
