FASB Names New Member to Its Investor Advisory Committee

Norwalk, CT, April 28, 2022—The Financial Accounting Standards Board (FASB) today announced the appointment of Heather McPherson of T. Rowe Price to its Investor Advisory Committee (IAC)...

Media Advisory

FASB Proposes Updates to Reference Rate Reform Guidance

Norwalk, CT, April 20, 2022—The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) that would extend the period of time preparers can utilize the reference rate reform relief guidance and expand the Secured Overnight Financing Rate (SOFR)-based interest rates available as benchmark...

Media Advisory | Exposure Document

Not-for-Profit Advisory Committee

Norwalk, CT, April 12, 2022—The FASB Not-for-Profit (NFP) Advisory Committee (the Committee) held its semiannual meeting on Thursday, March 31, 2022. Because of the COVID-19 pandemic, the meeting was held via video conference. Topics discussed included the following:

Meeting Recap

FASB Improves and Expands Hedge Accounting

Norwalk, CT, March 31, 2022—The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) intended to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings, and writeoffs....

Media Advisory | ASU 2022-02

FASB Improves and Expands Hedge Accounting

Norwalk, CT, March 28, 2022—The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) intended to better align hedge accounting with an organization’s risk management strategies....

Media Advisory | ASU 2022-01

SEC Accepts 2022 GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy

Norwalk, CT, March 22, 2022—The Financial Accounting Standards Board (FASB) today announced that the U.S. Securities and Exchange Commission (SEC) has accepted the 2022 GAAP Financial Reporting Taxonomy (GRT) and the 2022 SEC Reporting Taxonomy (SRT) (collectively referred to as the “GAAP Taxonomy”)....

Media Advisory

Financial Accounting Foundation Seeks Nominations for Private Company Council

Norwalk, CT, March 11, 2022—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced that it is seeking nominations for new members to join the Private Company Council (PCC) that advises the Financial Accounting Standards Board (FASB)....

News Release