Financial Accounting Standards Board’s parent organization announced this week it would provide free, enhanced online access to the Accounting Standards Codification and the Governmental Accounting Research System.
The new plan outlines the goals that the organization will address during the next several years.
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.
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 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 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.”
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 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.
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.
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.