Welcome to the latest edition of "Setting the standard." It includes the latest updates on the standard-setting activities of the FASB and IASB. Learn more inside.
Note: PwC’s publication "Setting the standard" published its final issue in January 2014. You can find updates on key standard setting developments in our Issues - Accounting and reporting area on CFOdirect.
Welcome to the latest edition of Setting the standard, our quarterly publication designed to keep you informed about the standard setting activities of the FASB and IASB. Here, we provide you with the most up-to-date information on the joint convergence projects, as well as updates on other current projects of the FASB.
In this edition, we give you the latest on where the boards stand with issuing their highly-anticipated final revenue recognition standards, as well as the progress being made on other joint projects. There’s plenty to explore, as the boards are redeliberating on financial instruments and charting a course ahead for their leases and insurance contracts projects. We also provide the most recent information on the FASB’s own standard-setting agenda, including its projects on discontinued operations, consolidation, repurchase agreements, going concern, and disclosure framework. Plus, we also explore the significant strides being made in the area of private company reporting, including the FASB’s issuance of a final standard containing the definition of a “public business entity” as well as the private company decision making framework.
You can read about these projects and more in this edition of Setting the standard.