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IASB Accounting Standards FASB

Mayer Brown

Our Views on the Proposed FASB and IFRS Payables Reporting Rules

Mayer Brown on

In December 2021 the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) released their proposed amendments to their accounting standards that will require buyers of...more

Opportune LLP

IRS Issues Taxpayer Favorable Change of Accounting Method Procedures to Align with New Revenue Recognition Standards

Opportune LLP on

On May 28, 2014, FASB and IASB jointly announced new financial accounting standards for revenue recognition, titled “Revenue from Contracts with Customers (Topic 606).” For publicly-traded entities, Topic 606 was required to...more

Lewitt Hackman

Franchisors: New Accounting Rules Will Significantly Impact Revenue Recognition

Lewitt Hackman on

An updated rule issued by the Financial Accounting Standards Board (FASB) will change when most franchisors may recognize revenue on their balance sheets from the collection of initial franchise fees....more

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