Projects

As part of its due process, the FASB issues exposure drafts, discussion papers and other project documents for stakeholder review and input.

Handbook: Software and website costs

KPMG in-depth guide to accounting for software and website costs.

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From the reference library

FASB issues final ASU on disclosure changes

ASU 2023-06 updates US GAAP disclosures in response to the SEC’s disclosure update and simplification initiative.
FASB issues ASU for joint venture formations

The ASU requires a JV formation transaction to be measured at fair value.
Podcast: Disaggregation of income statement expenses

KPMG professionals discuss proposed income statement disaggregation disclosure requirements.
FASB proposes income statement disaggregation disclosures

Public companies would disclose specific natural expense categories in certain income statement captions.
FASB issues proposal for purchased financial assets

Proposal would largely eliminate Day 1 credit loss expense for certain purchased financial assets.
FASB proposes illustration for profits interest awards

The FASB proposes four cases illustrating the scope application of ASC 718 for profits interest awards.
Podcast: Common control lease arrangements

KPMG professionals discuss recent changes to ASC 842 for common control arrangements and related leasehold improvements.
Simplified investor accounting for tax equity investments

FASB issues final ASU that expands use of the proportional amortization method to additional tax equity investments.
FASB issues proposed ASU on crypto asset accounting

FASB proposes new US GAAP Subtopic on accounting, reporting and disclosure of in-scope crypto assets.
FASB proposes improvements to income tax disclosures

Proposal would enhance income tax disclosures for the effective tax rate reconciliation and income taxes paid.
FASB project on environmental credit programs

The FASB continues to discuss the accounting for compliance and other environmental credits.
FASB issues ASU to extend relief for LIBOR transition

Entities can apply accounting relief for contracts and transactions affected by reference rate reform until Dec 31, 2024.
FASB amends long-duration contracts transition guidance

Amendment to long-duration contracts improvements to exclude certain contracts or legal entities sold and derecognized.
FASB clarifies fair value guidance for sale restrictions

Final ASU clarifies that contractual sale restrictions are not considered in measuring equity securities at fair value.
FASB removes goodwill project from its technical agenda

At its June 15 meeting, FASB decided to deprioritize and remove the goodwill project from its technical agenda.
FASB removes lease modifications project from its agenda

The FASB will instead consider lease modifications as part of its ASC 842 post-implementation review.
Cloud computing implementation costs post-ASU 2018-15

Updated: Q&As for customers applying the new guidance on cloud computing implementation costs.
EITF reaches a final consensus on implementation costs for cloud computing

The EITF decided that implementation costs incurred by customers in CCAs should be deferred if they would be capitalized by the customer in a software licensing arrangement under the internal-use software guidance

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