FASB issued a proposal Tuesday that would realign the definition of “collections” with the definition used in the American Alliance of Museums’ Code of Ethics for Museums. Under current GAAP, an ...

The Financial Accounting Standards Board has released guidance aimed at clarifying the official definition of a “business” for purposes of the accounting rules. The new accounting standards update ...

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The Financial Accounting Standards Board has issued a proposed accounting standards update to clarify the definition of a business in an effort to improve financial reporting of acquisitions of ...

FASB has finalized new guidance to make it more clear when a particular transaction constitutes the purchase or sale of a business or just a collection of assets. Tammy Whitehouse has more.

NORWALK, Conn. (CBS.MW) -- The nation's independent accounting standards overseer on Wednesday said it would propose a change in the definition of a derivative. The proposal by the Financial ...

The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update (ASU 2017-1) that clarifies the definition of a business under Accounting Standards Codification Topic 805, ...

FASB is proposing some clarifications to how a business is defined, to help companies following accounting rules related to acquisitions, disposals, goodwill, and consolidation. The board says ...

FASB clarified the definition of a business Thursday in an effort to help financial statement preparers evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets ...