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Applicability of FASB Statement No. 2 to Development Stage Enterprises—an interpretation of FASB Statement No. 2 Feb. 1975: Superseded by FASB Statement 7, para. 6; 6. Applicability of FASB Statement No. 2 to Computer Software—an interpretation of FASB Statement No. 2 Feb. 1975: Amended; Parts deleted; 7.
Circa 2008, the FASB issued the FASB Accounting Standards Codification, which reorganized the thousands of U.S. GAAP pronouncements into roughly 90 accounting topics. [12] The Codification is effective for interim and annual periods ending after September 15, 2009.
Problems with the old standards increased financial reporting risk and led to inefficiencies that increased cost. The Financial Accounting Standards Advisory Council then voiced its concerns due to the increase of financial reporting guidance from the old U.S. GAAP standards, and the FASB responded by launching a new project to codify the ...
Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections: April 2002: 146: Accounting for Costs Associated with Exit or Disposal Activities: June 2002: 147: Acquisitions of Certain Financial Institutions—an amendment of FASB Statements No. 72 and 144 and FASB Interpretation No. 9: October ...
In 1999, the FASB issued International Accounting Standard Setting: A Vision for the Future, a report which acknowledged the rapid changes taking place in the international accounting standard setting environment, and that convergence and development of high-quality international standards are coinciding goals. [22]
Even at the $5,000 level, companies are expecting to issue 150% more 1099-K forms than has been typical, said Wendy Walker, a vice president of regulatory affairs at Sovos, a business compliance ...
The "passivity" agreement FDIC wants BlackRock to sign is designed to assure bank regulators that the giant money manager will remain a "passive" owner of an FDIC-supervised bank and won’t exert ...
In the United States, the Financial Accounting Standards Board (FASB) is working with the International Accounting Standards Board (IASB) to reduce or eliminate the differences between United States Generally Accepted Accounting Principles (US GAAP) and the IFRS, [1] in particular according to the convergence programme laid out by a 2006 ...