FASB Outlook

From the Chairman's Desk

As many of you know, I’m usually not one for quotations. But for this column, I’ve found one that is right on point: “If you can't explain it to a six year old, you don't understand it yourself.”

Albert Einstein said that. And while it may not apply to all of GAAP, it does put a stake in the ground for the FASB as it seeks to reduce complexity in GAAP.
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What You Need To Know About
Disclosure Framework

The 10-Ks and Qs filed by U.S. publicly-traded companies seem to be getting thicker every year...

While the burgeoning volume of footnotes is a concern, a more vexing issue is the abundance of irrelevant disclosures…
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For the Investor:
What the FASB Learns from Investor Roadshows

By Marc Siegel, FASB Member

In a prior article I discussed how and why the FASB seeks out investors’ opinions and comments. One of these methods, the investor roadshow, is an important part of how the FASB receives high-level strategic input from investors.
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  • From the Chairman's Desk
  • What You Need To Know About
    Disclosure Framework
  • For the Investor:
    What the FASB Learns from Investor Roadshows

Implementing the Rev Rec Standard:
Submit Your Issues to the Joint Transition Resource Group

As companies and other organizations prepare to implement the new joint Revenue Recognition accounting standard, the Financial Accounting Standards Board (FASB) is taking steps to help them address the challenges that they may face.
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