Following ABA’s recent request, the IRS today said it would extend the compliance deadline for new proposed executor reporting requirements.
Browsing: Tax and Accounting
ABA yesterday hosted a six-hour private workshop with bankers, banking regulators, SEC, PCAOB, auditors and the Financial Accounting Standards Board devoted to resolving questions about FASB’s soon-to-be-final Current Expected Credit Loss standard.
The Financial Accounting Standards Board yesterday issued its new lease accounting guidance, which requires all operating leases to be recorded on the balance sheet of lessees.
In a letter to the Financial Accounting Standards Board yesterday, ABA called for FASB to hold additional meetings and the issuance of a new draft standard to address the complexity of the proposed Current Expected Credit Loss model.
FASB board members said they would address several of ABA’s concerns as the final standard is issued and implementations proceeds over the next few years.
In advance of the community bank roundtable meeting that the Financial Accounting Standards Board is hosting on Thursday to address its Current Expected Credit Loss standard for loan loss accounting, ABA has published two documents to assist bankers in understanding the background and technical issues to be addressed.
The Federal Reserve today released the three economic and financial market scenarios that it will use in the next round of capital planning and stress testing for banking institutions with more than $10 billion in assets.
Here it comes! ABA’s Mike Gullette on FASB’s long-expected final Current Expected Credit Loss standard for impairment of loans and debt securities.
In a letter to the Financial Accounting Standards Board today, ABA President and CEO Rob Nichols called for more clarity on the proposed Current Expected Credit Loss accounting standard, highlighting several key concerns that must be addressed before the standard can take effect.