The Financial Accounting Standards Board, FASB, is a private, independent organization that since 1973 has been given the authority by the U.S. Securities and Exchange Commission, or SEC, to establish ...

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework discussing the recognition and derecognition of an item in financial statements. FASB's conceptual ...

What Is Financial Accounting Standard 157 (FAS 157)? Financial Accounting Standard 157 (FAS 157) is the Financial Accounting Standards Board (FASB)’s controversial fair value accounting standard, ...

The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) aimed at refining derivative accounting practices and addressing the diversity in accounting for ...

President Trump’s Digital Asset Working Group has called for FASB to consider whether to treat stablecoins as cash equivalents.

The Financial Accounting Standards Board has issued an Accounting Standards Update to calm years of confusion over when contracts must be treated as derivatives. The move seeks to bring clarity for ...

The Financial Accounting Standards Board released an accounting standards update Thursday that provides illustrative guidance to help entities determine whether profits interest and similar awards ...

Today, the Financial Accounting Standards Board (FASB) announced new rules that will require companies to account for cryptocurrencies like Bitcoin at fair value. The rules are set to go into effect ...

FASB issued a proposal Tuesday that would realign the definition of “collections” with the definition used in the American Alliance of Museums’ Code of Ethics for Museums. Under current GAAP, an ...

Learn how deferred acquisition costs (DAC) aid insurance companies by spreading acquisition expenses over contract terms, reducing upfront strain and smoothing earnings.