The draft update would require investment companies to take contractual sale restrictions into account when valuing an equity ...

The Financial Accounting Standards Board wants to amend how investment companies measure the fair value of a security subject to a contractual sale restriction.

Banks transitioned to using the Secured Overnight Financing Rates benchmark after LIBOR was phased out in the wake of a manipulation scandal.

LIBOR, once a vaunted floating interest rate benchmark for trillions of dollars in debt, has been phased out in recent years after being tarnished by a rate manipulation scandal. U.S. dollar LIBOR ...

The Financial Accounting Standards Board (FASB) has appointed Angie Storm, the chief accountant at KPMG, to its Emerging Issues Task Force (EITF). This appointment was made by FASB chair Richard Jones ...

Private and governmental entities use separate accounting standards to create their financial statements and manage their funds. Without knowing the differences between the standards, it is harder for ...

A capital expenditure is a purchase that a company records as an asset, such as property, plant or equipment. Instead of recognizing the expense for an asset all at once, companies can spread the ...

Daniel Tinkelman, a professor of accounting at Brooklyn College of the City University of New York, is asking the Financial Accounting Standards Board to revamp accounting rules covering how personal ...

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In the wake of the Great Recession, FASB spent years deliberating new guidance intended to provide users with more useful information on the expected credit losses on financial instruments, the sudden ...

Congress passed programs to provide financial assistance to companies during the COVID-19 pandemic, including the employee retention credit (ERC). The ERC provides eligible employers with credits per ...