FASB Approves New Standards and a Proposed Effective Date Delay

FASB, Business Owners, Financial Reporting, NonprofitsThe Doty GroupJune 10, 2020FASB, Financial Accounting Standards Board, Convertible Debt Instruments, Nonprofit, Nonfinancial Assets, Gifts-in-kind, GAAP, Insurance Companies, Financial Services, Long-Duration ContractsComment

FASB Proposes Improvements to Accounting for Contributed Nonfinancial Assets by Not-for-Profit Organizations

The proposed ASU would require a not-for-profit organization to present contributed nonfinancial assets as a separate line item in the statement of activities.

NonprofitsThe Doty GroupFebruary 10, 2020FASB, Accounting Standards Update, Nonfinancial Assets, Gifts-in-kind, Nonprofit, Financial Accounting Standards BoardComment

FASB Issues Narrow-Scope Improvements to Credit Losses Standard

The new Accounting Standards Update clarifies areas of guidance so organizations can more smoothly transition to the standard.

Business OwnersThe Doty GroupNovember 26, 2019Financial Accounting Standards Board, Accounting Standards Update, Financial Instruments, Credit CLosses, CECL, Expected Recoveries, Credit Loss Standards, PCD assetsComment

FASB Approves Proposed Effective Date Delays at October 16 Meeting

The Financial Accounting Standards Board approved its 08/19 proposal to grant certain organizations various effective date delays on its credit losses, leases, and hedging standards.

Business Owners, ServicesThe Doty GroupOctober 18, 2019Lease Accounting, Credit Loss Standards, Lease Accounting Standards, FASB, Financial Accounting Standards Board, Private Companies, NonprofitComment

FASB Proposes Improvements Related to Distinguishing Liabilities from Equity

Proposal Focuses on Convertible Instruments and Derivatives Scope Exception Guidance

Business OwnersThe Doty GroupAugust 13, 2019Financial Accounting Standards Board, Financial Instruments, Convertible Debt Instruments, Convertible Preferred Stock, Derivatives Scope ExceptionComment