Financial Accounting Standards Board

GOOD IDEAS HAVE NO BORDERS: Representatives of the International Accounting Standards Board (IASB) and the FASB met in Norwalk recently for a joint education meeting to share updates and insights on their respective agenda projects. The meeting included discussions about intangible assets, statement of cash flows, post-implementation reviews of the revenue recognition and leases standards, and other priority areas for stakeholders in the U.S. and around the world. We thank IASB Chair Andreas Barckow and his IASB colleagues for engaging with the FASB to exchange ideas and best practices to develop financial accounting and reporting standards that provide investors and other financial statement users with information they'll use to make capital allocation decisions.

I'm excited to share my recent article highlighting the search for FASB’s Next Post-Doctoral Fellow. If you’re a recent PhD graduate passionate about shaping the future of financial reporting, I encourage you to read more and apply by November 6, 2024!

FASB Member Dr. Joyce Joseph will share insights and project updates at the AFWA Women Who Count conference on October 24, 2024. Visit the AFWA website for more details

📸 Leaders and Trustees from IFRS Foundation, FAF, IASB, and FASB Meet in Montreal On October 7, the FAF and FASB met with leaders and trustees from the IFRS Foundation and International Accounting Standards Board (IASB) in Montreal. This productive gathering allowed both organizations to exchange best practices in governance and oversight of their standard-setting boards. The leaders also reviewed evolving technology trends in financial reporting and the importance of sustaining the independence of the standard-setting process. Looking ahead, both organizations are committed to continuing this important dialogue through future joint meetings.

FASB and GASB are pleased to announce a joint webcast providing an update for college and university accounting and public administration educators and researchers. The areas covered will include an update on both FASB and GASB activities with a focus on topics that are relevant for teaching and research activities. Participants will be able to submit questions during the live webcast and download the presentation slides. Participants in the live event can earn up to 2.0 Continuing Professional Education (CPE) credits.

Governmental and Not-for-Profit Accounting Webcast for Academics November 8, 2024 1:30PM EST 📆 Register Now: https://bit.ly/3YdSRQX Up to 2.0 CPE Credits Available FASB and GASB are pleased to announce a joint webcast providing an update for college and university accounting and public administration educators and researchers. The areas covered will include an update on both FASB and GASB activities with a focus on topics that are relevant for teaching and research activities. Participants will be able to submit questions during the live webcast and download the presentation slides. Participants in the live event can earn up to 2.0 Continuing Professional Education (CPE) credits.

⭐ Seeking Nominations for the Postgraduate Technical Assistant Program (PTA) Program ⭐ Nominate a Candidate by November 22, 2024: https://bit.ly/3BwvzwZ Our Postgraduate Technical Assistant Program (PTA Program) offers a unique, one-year immersive experience that delves deep into the financial reporting standard-setting process. During the year-long program, Postgraduate Technical Assistants (PTAs) will learn about the standard-setting process from start to finish. They will be provided the unique opportunity to work alongside senior members of project staff and will be involved in all phases of their assigned projects.

The Financial Accounting Standards Board (FASB) seeks public comment on a proposed Accounting Standards Update (ASU) to improve the accounting guidance for share-based consideration payable to a customer in conjunction with selling goods or services. Stakeholders are encouraged to review and provide input on the proposed ASU by November 14, 2024. For more information, visit https://bit.ly/4eq4IRI

Congratulations to James J. Leisenring on his retirement after over four decades of dedicated service to the FASB. On his last day, the FASB staff honored Jim’s remarkable contributions with a special book signing of the Conceptual Framework. We wish Jim all the best as he embarks on this next chapter!

In a Journal of Accountancy exclusive, Jere Shawver, CPA, CEO of Baker Tilly US, LLP, and chair of the Financial Accounting Standards Board Private Company Council, explains the work the PCC is doing on its top 4 priorities: credit losses, debt modifications, retainage and overbillings presentation, and leases. https://lnkd.in/eT3NMT7q