Browsing: FASB

Newsbytes FASB will not eliminate HTM classification 

The Financial Accounting Standards Board in December rejected several agenda requests, including voting unanimously to reject a request to eliminate the held-to-maturity classification for debt securities. Before the vote, board members highlighted their reasons for rejecting the request, indicating that the current classification model, including HTM, is the preferred model and should not be eliminated.  

Newsbytes ABA: Proposed accounting standards place undue burden on banks

A proposal by the Financial Accounting Standards Board to require more detailed information about expenses in public companies’ financial statements would not offer discernible benefits for the users of bank financial statements and instead would result in additional costs for all parties involved, ABA said.

Newsbytes ABA cautions FASB against changing income tax disclosure requirements

Existing income tax disclosures for investors, lenders and others who use financial statements to make capital allocation decisions are generally fair, and a proposal by the Financial Accounting Standards Board to expand those requirements wouldn’t improve a user’s assessment of the prospects for future cash flows, and may even lead to confusion and incorrect conclusions, ABA said in comments to FASB.

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