FASB staff weighs in on debt modifications and restructurings
FASB’s staff recently published an educational paper that provides guidance to borrowers on how to account for debt modifications and restructurings, which have been common this year as a result of the coronavirus pandemic. read more – Journal of Accountancy
FASB clarifies callable debt securities accounting
FASB recently issued rules amendments to clarify an entity’s accounting responsibilities related to callable debt securities. read more – Journal of Accountancy
FASB issues minor codification changes
FASB recently issued a new standard that is designed to provide incremental improvements to its Accounting Standards Codification. read more – Journal of Accountancy
FASB provides implementation relief for insurance companies
FASB recently issued a standard that provides relief for insurance companies implementing the board’s new standard for accounting for long-duration insurance contracts. read more – Journal of Accountancy
FASB pursues impairment-triggering relief for certain private companies, NFPs
FASB recently voted to add a project to its technical agenda that would provide certain private companies and not-for-profits with an option to perform goodwill triggering event evaluation only on the annual reporting date. read more – Journal of Accountancy
FASB proposes scope clarification for reference rate relief
FASB recently issued a proposal that is intended to clarify the scope of the board’s guidance on reference rate reform. read more – Journal of Accountancy
FASB proposes clarifying forwards and options accounting
FASB recently proposed an accounting standard that would clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified forwards and options. read more – Journal of Accountancy
FASB proposes 3 targeted lease accounting changes
FASB recently issued a proposal that is designed to improve three targeted areas of its lease accounting guidance. read more – Journal of Accountancy
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