A “screen”. The “framework”. “Single or similar asset threshold”. Is anyone else scratching their head when they read the Financial Accounting Standards Board’s (FASB) new definition of a business?

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, ...

The Financial Accounting Standards Board’s guidance on the definition of a business could be of special benefit to the real estate, pharmaceutical, biotech and financial services industries, but doesn ...

FASB wants to clarify the definition of a business to help financial statement preparers evaluate whether they should account for transactions as acquisitions or disposals of assets or businesses.

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In 2015, FASB sent a number of stakeholders into a tizzy when it issued two exposure drafts, part of its disclosure framework project, intended to “clarify the concept of materiality.” After hearing ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

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 ...

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 ...