FASB declines to tackle new credit risk transfer project
CFO Dive
JANUARY 16, 2025
accounting standard setter decided against adding a new project to its priority agenda that would have required banks to disclose more information about CRTs.
Accounting Standards Related Topics 
FASB’s environmental credit rules recall crypto debate
CFO Dive
JUNE 13, 2024
Like crypto rules FASB recently finalized, the environmental credit accounting standards would provide specific guidance where GAAP is currently silent.
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FASB fine-tunes proposed expense disclosure rule
CFO Dive
MARCH 29, 2024
The proposed accounting standards update is one of several initiatives that have been a priority for FASB under the general theme of disaggregation.
Webinars
Maximizing Profit and Productivity: The New Era of AI-Powered Accounting
Book of Secrets on the Month-End Close
How To Break Digital Transformation Barriers And Accelerate AI Adoption
Forecasting Failures Are Costly: Here's How To Fix Them
The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience
FASB backs off bigger software accounting revamp
CFO Dive
MARCH 21, 2024
It's been decades since the Financial Accounting Standards Board has made any major changes to GAAP accounting rules for software.
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FASB drops four-year project changing goodwill accounting
CFO Dive
JUNE 16, 2022
accounting standard-setter shelved a proposal recasting how companies account for an estimated $3.6 trillion in goodwill on their balance sheets.
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FASB pursues agenda refresh
CFO Dive
JANUARY 6, 2025
Narrower projects could be in store for the accounting-standard setter as some stakeholders want more guidance on hot- button issues like crypto and goodwill.
Updated Accounting Standards for In-Kind Donations (2022)
The Charity CFO
MAY 10, 2022
If your nonprofit uses donations of supplies, services, and even time to help fund your operations, you need to know about recent changes in accounting standards for in kind donations. The #1 accounting mistake that nonprofits make is hiring the wrong people to help them. Get the free guide!
FASB revisits GAAP cleanup
CFO Dive
OCTOBER 3, 2023
The board may remove some "non-authoritative" definitions from the codification — effectively the bible of generally accepted accounting standards.
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FASB pushes crypto, tax rules over finish line
CFO Dive
DECEMBER 15, 2023
standard setter has issued nine new accounting standards updates so far this year, compared to six in all of 2022.
4 CFO trends to watch in 2023
CFO Dive
JANUARY 6, 2023
Fed efforts to curb inflation, an imbalance in the demand and supply of workers and clarification of accounting standards are among the CFO trends this year.
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FASB chooses single software accounting model
CFO Dive
APRIL 5, 2023
accounting standard setter is revisiting accounting for software costs. The new project marks the first time in decades that the U.S.
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FASB shifts to prioritize 'rapidly evolving' crypto assets
CFO Dive
MAY 12, 2022
The board is getting serious about improving accounting standards for digital assets even as a crypto market slump is hammering valuations.
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It’s time to prepare for FASB’s new compensation reporting rules
CFO Dive
DECEMBER 13, 2024
The new accounting standard will fundamentally change how businesses track and report compensation, especially with regards to bonuses and commissions, Mark Schopmeyer writes.
FASB mulls two new software accounting options
CFO Dive
JANUARY 19, 2023
The project to improve software accounting standards is a long time coming. At least one element of the current standards has remained largely unchanged since 1985.
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FASB issues lease standards update
CFO Dive
MARCH 27, 2023
The changes to lease accounting standards (Topic 842) provide narrowly targeted relief for some companies grappling with the guidance from 2016.
Deloitte China to pay $20M SEC penalty
CFO Dive
OCTOBER 1, 2022
exchanges comply with the country’s accounting standards. The penalty is the latest sign of regulators’ battle to ensure foreign companies on U.S.
FASB kicks off comment period on income-tax updates
CFO Dive
MARCH 15, 2023
While previous FASB efforts to update accounting standards for taxes have fizzled, Chair Richard Jones has said tweaks to the project’s scope have made it achievable.
FASB tees up loan loss fix
CFO Dive
JUNE 29, 2023
The FASB is poised to tweak existing accounting standards which originally sought to address calls for timelier loss reporting after the 2008 financial crisis.
SIFMA calls to slow CECL credit-losses project
CFO Dive
JULY 17, 2023
The current expected credit losses accounting standard was aimed at fostering timelier reporting of deteriorated assets. It’s been controversial.
FASB leaning toward making customer relationships part of goodwill, not separate intangible
CFO Dive
MARCH 14, 2022
Although the Financial Accounting Standards Board took no action on the matter at its early-March meeting, members signaled they’d like to stop counting a company’s customer relationships as an asset.
SMBs May Get More Time To Adopt New Accounting Standards
PYMNTS
JUNE 24, 2019
Financial regulators are considering allowing smaller businesses (SMBs) more time to comply with sweeping changes in lease accounting standards, which experts have said will place a significant burden as organizations work to comply with the requirements. We’ll ask you for input on this as well.”
Banks, Businesses Brace For Far-Reaching Accounting Standard Changes
PYMNTS
OCTOBER 9, 2018
Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. Experts say the move will not go unnoticed when the accounting standards begin to take effect for public companies in 2021.
New accounting standard for insurance soon
CFO News
JULY 17, 2023
The ministry of corporate affairs (MCA) has received recommendations by the National Financial Reporting Authority (NFRA) on the Indian Accounting Standard (Ind AS) 117 for insurance contracts, he told ET."The The standards will soon be notified under the Companies (Indian Accounting Standards) Rules 2015," he added.
New Hedge Accounting Standard Flashes Green Light
Reval
JULY 13, 2017
accounting standard that makes it easier to account for hedges is likely to encourage more corporates to hedge. The Financial Accounting Standards Board voted last month to finalize the new hedge accounting standard, and the final standard is due out in August. Treasury & Risk.
Hot-Tip: Accounting Standards Update to ASC 842
Bramasol
AUGUST 13, 2023
Specific issues addressed in the PIR are: Which terms and conditions should be considered when determining whether a lease exists and, if so, the classification and accounting for the lease.
NFRA reviews proposals for new accounting standards for insurance contracts
CFO News
APRIL 27, 2023
NFRA will share its recommendations with the ministry of corporate affairs, which will consider the Ind AS 117 and notify the standards under Companies (Indian Accounting Standards) Rules 2015. Once notified, Ind AS 117 will replace the current Ind AS 104, Insurance Contracts.
How to Comply with Accounting Standards for Nonprofits
The Charity CFO
JANUARY 19, 2023
Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Because of their unique structure and operational model, nonprofits must comply with various accounting standards that are, in many ways, different from for-profit organizations.
FASB weighs software capitalization threshold
CFO Dive
SEPTEMBER 20, 2023
For the first time in nearly 40 years the Financial Accounting Standards Board is working to update its guidance on software costs
IndusInd Bank’s ‘2.35% hit to net worth’ claim misleading; CFO, auditors failed in oversight, says Amarjit Chopra
CFO News
MARCH 18, 2025
Chopra said that treasury operations and foreign exchange liabilities should have been thoroughly reviewed otherwise where is the need of Accounting Standards, an area where the CFO, auditors did not pay attention and the crisis landed.
Investors nudged FASB to crypto, carbon credits: report
CFO Dive
JUNE 30, 2022
accounting standard setter drew a three-fold jump in investor feedback after launching an initiative in 2020 to get more input on where it should focus its efforts.
SEC accepts FASB's 2022 reporting taxonomies
CFO Dive
MARCH 23, 2022
The 2022 reporting taxonomies include updates to accounting standards on credit losses and balance sheet offsets, among other things, the Financial Accounting Standards Board says.
India Gives NBFCs Two Years To Adopt New Accounting Standards
PYMNTS
SEPTEMBER 26, 2019
The Securities and Exchange Board of India will reportedly give non-bank financial companies (NBFCs) two years to adopt and implement changes to accounting standards, the Financial Express reported Wednesday (Sept. regulators have given small businesses more time than other firms to adopt the accounting standard changes.
Firms Offered More Time To Adopt New Accounting Standards
PYMNTS
OCTOBER 18, 2019
The Financial Accounting Standards Board (FASB), which establishes accounting standards in the U.S., is offering corporates more time to adopt some revised standards, The Wall Street Journal said on Thursday (Oct. 15, 2022 to adopt CECL. 15, 2019 deadline for large public lenders has not changed.
India's path to global leadership in accounting standards: balancing global norms with local needs
CFO News
NOVEMBER 29, 2024
India stands poised to reshape its accounting standards, integrating global best practices with its unique needs. Sunil Kanoria, Co-Founder of Srei Group and former President of Assocham, explores this pivotal transformation.
FASB steps closer to LIBOR accounting relief extension
CFO Dive
APRIL 21, 2022
accounting standards setter will likely affirm the proposed two-year extension of LIBOR-related accounting relief unless it gets new feedback during the public comment period, according to a FASB spokesperson.
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FASB to require disclosure of loan modification cash flow impacts
CFO Dive
FEBRUARY 3, 2022
The Financial Accounting Standards Board also wants lenders to report on current-year gross write-offs by year of origination.
Unpacking crypto and FASB's new priorities with Richard Jones
CFO Dive
JULY 18, 2022
The Financial Accounting Standards Board Chair Richard Jones discussed the organization’s agenda, a possible quick fix and the accounting topic that finally trended on social media.
Actuaries break down New Accounting Standards by IFRS17, Leading Insurers chime in
CFO News
FEBRUARY 20, 2025
IFRS 17, the global insurance accounting standard, took effect in 2023, with India aligning through Ind AS 117, issued in August 2024. While the initial compliance deadline was 2025, IRDAI has extended it to 2027, giving insurers more time to adapt. Heres what they shared.
Letters sent to affiliates of Deloitte, EY, KPMG, Grant Thornton, and two CA firms based in Ahmedabad; Adani Group says it complies with relevant accounting standards & laws
CFO News
OCTOBER 25, 2023
The Adani Group has stated that it has followed all relevant accounting standards and laws. The National Financial Reporting Authority (NFRA) has requested audit affiliates of Deloitte, EY, KPMG, Grant Thornton, and two Ahmedabad-based CA firms to provide information regarding their audit practices while auditing Adani companies.
RBI says final ECL norms will take more time to kick in, “technical issues” under examination
CFO News
AUGUST 10, 2023
ECL Guidelines: The ECL framework is envisaged under the new Indian accounting standards or Ind-As, which are expected to be adopted by banks in the next two years.
ASU 2020-06 and You: Simplifying Accounting for Convertible Instruments
Embark With Us
MAY 19, 2022
It wasn't so long ago when the very thought of accounting for convertible debt sent shivers down the spines of even veteran accountants. Thankfully, the FASB heard the screams and night terrors, giving the guidance a much-needed overhaul in the form of Accounting Standards Update (ASU) 2020-06.
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US Eases New Banking Rule On Reporting Bad Loans
PYMNTS
MARCH 30, 2020
1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). Bank regulators have rolled back the Jan. National bank regulators — The Federal Reserve, Federal Deposit Insurance Corp.
Practices to measure the ROI of ESG investments
Future CFO
FEBRUARY 10, 2025
Leverage External Frameworks and Standards Adopt Recognised Reporting Standards: Implement existing frameworks such as the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), or the Task Force onClimate-related Financial Disclosures (TCFD) tostructure ESG reporting.
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Government working on aggregation of CA firms, accounting standards for insurance sector
CFO News
JULY 1, 2024
Government and ICAI collaborate to boost global accounting firm presence. Efforts include setting standards for insurance sector and LLPs, and reducing the time for voluntary company closure. ICAI President plans for CA firm aggregation in the near future.
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