Financial Accounting Foundation issues new strategic plan
The new plan outlines the goals that the organization will address during the next several years.
Browsing: FASB
FASB seeks to update accounting standards for investments in tax credit structures
The Financial Accounting Standards Board today issued a proposed accounting standards update intended to improve accounting and disclosures for equity method investments in tax credit structures.
ABA comments on FAF draft strategic plan
As the Financial Accounting Foundation considers a proposed strategic plan, ABA is recommending the organization consider ensuring that post-implementation reviews (PIRs) are conducted on a regular basis and that FAF takes a leadership role in helping bridge the gap between investor expectations and reporting on environmental sustainability.
ABA supports FASB action to aid Libor transition for derivatives markets
ABA this week wrote to the Financial Accounting Standards Board in support of a deferral of the sunset date for the transition relief provided by FASB and the expansion of the definition of the Secured Overnight Financing Rate, or SOFR, to include term SOFR as eligible to be designated a benchmark index for hedge accounting purposes.
ABA Cautions FASB on Enhanced Disclosures as Replacement for TDRs
ABA today expressed support for a Financial Accounting Standards Board proposal that would eliminate the current accounting guidance for troubled debt restructurings, or TDRs, but cautioned that proposed expanded disclosure requirements for loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty could “unintentionally introduce additional cost and complexity that outweighs the benefits of eliminating TDRs.”
FASB Proposes Changes to TDR Accounting, Vintage Disclosures
The Financial Accounting Standards Board today proposed to eliminate its accounting guidance for troubled debt restructurings, or TDRs, while enhancing certain loan disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty.
ABA Comments on FASB’s Technical Agenda
ABA submitted a comment letter in which it called on FASB to both prioritize their projects on troubled debt restructurings and goodwill, and asked the board to add several projects to its agenda.
ABA Supports FASB Projects to Improve TDR, Goodwill Accounting
The American Bankers Association this week called on the Financial Accounting Standards Board to prioritize projects to improve accounting for troubled debt restructurings and simplify the subsequent accounting for goodwill.
FASB to Reconsider TDR, Purchased Loan Accounting Under CECL
The Financial Accounting Standards Board today voted to add two projects to its technical agenda based on feedback it received through its CECL project implementation review process.
ABA Urges Expansion, Simplification on FASB Hedge Accounting Proposal
In a comment letter to the Financial Accounting Standards Board, the American Bankers Association recommended several changes to a proposal that could significantly expand when hedge accounting can be used by banks to mitigate reported profits and losses.