FASB Finalizes Lease Accounting Standard
FASB on Wednesday also gave final approval to a new lease accounting standard that requires all operating leases to be...
Tax and Accounting
FASB Sets Effective Dates for New Impairment Accounting
Also at its Wednesday meeting, FASB agreed that its proposed Current Expected Credit Loss standard for impairment of loans and...
FASB Finalizes “Market to Market” Accounting
After at least five years of serious debate about proposing to mark all financial assets and liabilities to market, the...
Agencies Reconcile Volcker, Basel III Capital Deduction Guidance
The federal banking regulators today issued guidance on the methodology banks can use to deduct investments from tier 1 capital...
Fed Staff Want Scalability for New Impairment Accounting
During a conference call yesterday with more than 3,000 participants, Federal Reserve Board staff indicated that the Financial Accounting Standards...
U.S. Begins Foreign Tax Information Exchanges Under FATCA
The IRS today announced that it has begun exchanging financial account information with foreign tax authorities as part of its...
OCC Updates Accounting Resource
The OCC yesterday released an updated version of its Bank Accounting Advisory Series that provides accounting guidance for accountants at...
ABA Cautions SEC on Audit Committee Disclosures
Warning the SEC that a stringent governance process is no guarantee that financial statements will never need restatement, ABA yesterday...
ABA Urges Restraint in PCAOB Proposal
ABA recently urged the Public Company Accounting Oversight Board to emphasize enforcement of current audit requirements relating to the work...
