- The FASB has released for public comment a proposal that would allow not-for-profit groups to take advantage of an accounting break on accounting for goodwill that currently only is allowed for private companies. The proposal also offers not-for-profit groups a simpler method to account for certain intangible assets in a business combination.
- Bank regulators have completed a rule allowing banks to phase in the capital effect of the FASB’s new credit losses accounting standard over a period of three years. The relief comes amidst growing banker angst about the impact of the sweeping new accounting standard.
- The FASB released for public comment two minor changes to its lease accounting standard dealing with questions from lessors. The plan address queries about assessing the fair value of certain assets and how to present leased assets in the statement of cash flows.
- The FASB published three narrow updates aimed at easing how lessors apply the FASB’s new lease accounting standard. Lessors told the FASB that the three areas caused headaches as they started gearing up for the 2019 public company adoption date of the new standard.
- Published in Confero Magazine: Employee benefit plans can benefit from foundational cybersecurity best practices.