Tag: fasb

Credit Losses Standard Tips for Audit Committees

The new credit losses standard being introduced by FASB focuses on new credit losses. And the financial services sector will certainly have to wade through some challenges as it’s implemented. ...

Accounting for Collaborative Arrangements

The Financial Accounting Standards Board (FASB) has issued new guidance about how entities should account for collaborative arrangements. Because there was no previous guidance, this led to businesses employing a...

The Impact of the New Loss Accounting Rule

The upcoming changes in how US financial institutions report loan losses will have significant impacts on some banks. While the effects on the banks will be unequal, it is expected...