For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
The FASB recently voted to issue proposals on the determination of an arrangement as a lease and the financial reporting requirements for related party lease arrangements for certain entities.
You have mapped out your estate plan and feel confident in its estate tax efficiency. However, it is important to consider the income tax ramifications of each decision throughout the planning process to avoid unintended consequences.
The FASB has clarified the measurement of the fair value of equity securities subject to contractual restrictions that prohibit the sale of the equity security.
The Governmental Accounting Standards Board (GASB) has released Statement No. 100, Accounting Changes and Error Corrections (Statement 100), which amends GASB Statement No 62.