Improving the accounting for and disclosure of certain crypto assets is the aim of a proposed accounting standards update (ASU) announced Thursday by the accounting profession. The Financial Accounting Standards Board (FASB) said the proposed […]
The expiration date for guidance on dealing with the demise of a now-defunct reference rate has been extended, to Dec. 31, 2024, by the accounting profession, according to a statement issued Wednesday. The Financial Accounting […]
The underperforming assets ratio and higher-risk assets ratio — both used to determine deposit insurance assessments for large and highly complex banks – would be amended to include the new term of “modifications to borrowers […]
The time period preparers may utilize reference rate reform relief guidance and expand the Secured Overnight Financing Rate (SOFR)-based interest rates available as benchmark interest rates was proposed Wednesday by the financial accounting standards group, […]
The current expected credit losses (CECL) accounting standard has been updated with expanded disclosures and improved accounting, particularly for troubled debt restructurings (TDRs) for those that have adopted the standard and gross writeoffs of vintage […]
The Financial Accounting Standards Board (FASB) will host a virtual roundtable on implementation of the new current expected credit losses (CECL) accounting standard, particularly technical issues related to purchased financial assets with credit deterioration and […]
Implementation of the new current expected credit losses (CECL) accounting standard – particularly technical issues related to purchased financial assets with credit deterioration and troubled debt restructurings – will be the subject of a three-hour […]
The federal agency that charters and supervises national banks and federal savings associations on Monday issued the 2020 update to its Bank Accounting Advisory Series (BAAS), a publication that provides the agency’s interpretations of accounting […]
The federal credit union regulator became the latest to call for an exemption for the institutions he supervises from new accounting rules requiring estimation of expected losses over the life of loans, known as the […]
Certain accounting standards – including those related to current expected credit losses (CECL) – should be either relaxed or postponed due to the financial impact of the coronavirus impact, the board chairman of the federal […]
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