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 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 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 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.

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 ...

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 ...

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

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 ...