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The Financial Accounting Standards Board has voted to propose to defer the effective date of the new revenue recognition standard by one year after hearing feedback from constituents. FASB met ...

FASB has instructed its Emerging Issues Task Force (EITF) to consider how to account for liabilities associated with certain prepaid cards. The EITF will discuss whether and when an entity should ...

The Financial Accounting Standards Board (FASB), which sets U.S. GAAP standards, has clarified key language around its new revenue-recognition guidelines. Until a November 29 meeting, there were ...

Down deep in the weeds of the implementation of new revenue recognition accounting, companies have a new clarification to consider from FASB, writes Tammy Whitehouse.

The deadline is approaching next year for public companies to begin using the new revenue recognition standard, and many not-for-profits may find themselves confronting the new standard a lot sooner ...

Maybe it’s a collective sense of grieving that is keeping so many companies on the sidelines as finance professionals brace for one of the biggest accounting process changes ever seen in modern ...

FASB wants to clarify the definition of a business to help financial statement preparers evaluate whether they should account for transactions as acquisitions or disposals of assets or businesses.