FASB issued a standard Thursday aligning its definition of “collections” with the definition used in the American Alliance of Museums’ Code of Ethics for Museums. Accounting Standards Update No.

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 issued an accounting standards update Thursday for nonprofits, modifying the definition of the term “collections” to align it with the American Alliance of ...

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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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.

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 ...

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, ...