ABA Wins Extension for New Executor Reporting Requirements
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 Spearheads CECL Workshop with FASB, Regulators and Auditors
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.
FASB Finalizes New Lease Accounting 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.
ABA Calls for More Discussion, Possible Re-Exposure of CECL Standard
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.
ABA Raises CECL Concerns During Long-Awaited FASB Meeting
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.
ABA Resources for FASB CECL Roundtable Now Available
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.
Fed Releases 2016 Stress Test Scenarios, CCAR Instructions
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.
CECL: Simply Complex in the Real World
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.
Nichols: More Clarity Needed on CECL Standard
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.