FASB project on environmental credit programs
The FASB’s latest discussion focuses on the model to account for environmental credit obligations.
FASB proposal – induced conversions of convertible debt
FASB issues a proposed ASU on induced conversion accounting for convertible debt instruments.
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 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.
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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