Financial Accounting Standards Board (FASB)

The FASB’s mission is to establish and improve standards of financial accounting and reporting that foster financial reporting by nongovernmental entities that provides decision-useful information to investors and other users of financial reports.

Website: www.fasb.org

 

PwC resources

 

Effective dates for FASB guidance

The FASB's active standard setting means it is more important than ever to know which standards are effective when. Here we provide effective dates for the FASB's recently released guidance, segregated between public companies and nonpublic companies.

FASB Accounting Standards Codification Quick Reference Guide

Our quick reference guide includes the structure of the Codification, examples of the citation format, how new authoritative guidance will be released and incorporated into the Codification, and more.

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Listen to our podcast on FASB Standard setting update, Second quarter 2017

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Select news releases

 

Proposed standards

See the FASB's website for a copy of all outstanding proposed Standards.

Proposed Accounting Standards Update: Technical corrections and improvements to Topic 942, Financial services - depository and lending - elimination of certain guidance for bad debt reserves of savings and loans

The FASB is issuing this proposed Update to supersede outdated deferred tax guidance on bad debt reserves of savings and loans that arose after December 31, 1987, and guidance related to the Comptroller of the Currency’s Banking Circular 202, Accounting for Net Deferred Tax Charges (Circular 202).

Proposed Accounting Standards Update: Debt (Topic 470): Simplifying the Classification of Debt in a Classified Balance Sheet (Current versus Noncurrent)

The Board is issuing this proposed Update as part of its Simplification Initiative. The objective of the Simplification Initiative is to identify, evaluate, and improve areas of generally accepted accounting principles (GAAP) for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of the financial statements.

Proposed Accounting Standards Update: Inventory (Topic 330): Disclosure Framework - Changes to the Disclosure Requirements for Inventory

The Board is issuing this proposed Update as part of the disclosure framework project. The objective and primary focus of the disclosure framework project are to improve the effectiveness of disclosures in the notes to financial statements by facilitating clear communication of the information required by generally accepted accounting principles (GAAP) that is most important to users of each entity’s financial statements.

 

PwC comment letters

 

Final standards

See the FASB's website for a copy of each Accounting Standards Update (ASU) and see our Effective dates for new FASB guidance page.

 

 

Meeting minutes

Meeting minutes - Current and archived

Provides access to the current and archived FASB board meeting handouts as issued by the FASB. See also the Tentative Board Decisions section of the FASB's website for a summary of current and recent tentative decisions reached at FASB meetings.

 

Contact us

Beth Paul
US Strategic Thought Leader, National Professional Services Group
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Pat Durbin
US Standard Setting Leader, National Professional Services Group
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David Schmid
International Accounting Leader, National Professional Services Group
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