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 ...

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

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.

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, ...