Financial Accounting Standards Board

The Financial Accounting Standards Board (FASB) has announced the availability of the 2025 GAAP Financial Reporting Taxonomy (GRT), the 2025 SEC Reporting Taxonomy (SRT), and the 2025 GAAP Employee Benefit Plan Taxonomy (EBPT). The FASB has also announced the availability of the 2025 DQC Rules Taxonomy (DQCRT) and the 2025 GAAP Meta Model Relationships Taxonomy (MMT). Together with the GRT, SRT, and EBPT, these are collectively referred to as the “FASB Taxonomies.” Guidance on usage in compliance with SEC rules is available on the SEC website. https://bit.ly/3ZEcFwn

Somewhere, a PhD candidate is tackling big accounting challenges—are they in your program? The FASB Emerging Scholar Award celebrates exceptional doctoral research that contributes to accounting standard-setting. With nominations opening in early 2025, now is the time to start thinking about who among your students has the potential to be the next Emerging Scholar. Stay tuned and help us uncover the next star in accounting research! Be sure to visit the Emerging Scholar Award Page for future updates. https://bit.ly/4fZGDlw

In this video, FASB Chair Rich Jones, Project Manager Tiffany Wyszkowski, and Board Member Fred Cannon discuss how the Disaggregation of Income Statement Expenses (DISE) standard enhances transparency in income statement expenses. https://lnkd.in/eWq46-CW

In this video, FASB Chair Rich Jones, Project Manager Tiffany Wyszkowski, and Board Member Fred Cannon discuss how the Disaggregation of Income Statement Expenses (DISE) standard enhances transparency in income statement expenses. https://lnkd.in/eWq46-CW

🚨 Registration is Now Open: 2025 Emerging Financial Reporting Issues Research Symposium 🚨 Join us on Friday, April 4, 2025, at the FASB offices in Norwalk, CT, for a day of insightful discussions on the Statement of Cash Flows and Cash Flow Information, co-hosted by the FASB and the University of Chicago Booth School's Chookaszian Accounting Research Center. 📌 Highlights: ✅ Academic paper presentations with discussions by academics and standard setters ✅ Panel discussions featuring investors, regulators, and standard setters ✅ Optional welcome reception: Thursday, April 3, 2025 ⏳ Seats are limited to the first 50 registrants—don’t miss out! Register now: https://lnkd.in/efKGRP86

The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) on the measurement of credit losses for accounts receivable and contract assets for private companies and certain not-for-profit entities. Stakeholders are encouraged to review and provide input on the proposed ASU by January 17, 2025. https://bit.ly/3ZBwHsD

The Financial Accounting Standards Board (FASB) has published an Accounting Standards Update that clarifies for non-calendar year-end entities the interim effective date of Accounting Standards Update No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. https://bit.ly/3DJrEOo

The Financial Accounting Standards Board (FASB) has published an Invitation to Comment (ITC) that gives stakeholders the opportunity to provide feedback on its future standard-setting agenda. Stakeholders are asked to review and provide comment by June 30, 2025. https://bit.ly/42iHx8T

We at the FASB extend our very best wishes to you and yours this holiday season and through the New Year.

The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) that would establish authoritative guidance on the accounting for government grants received by business entities. Stakeholders are encouraged to review and provide input on the proposed ASU by March 31, 2025. https://bit.ly/4hXlERF