Industry Insights

What You Need to Know – Changes in Financial Accounting Standards:  2015

December 2015

Executive Summary

This paper provides an overview of proposed and final standards issued by the Financial Accounting Standards Board (FASB) in 2015, along with standards effective for fiscal years beginning on or after December 15, 2014. The paper is structured by affected entities or industries, including standards applicable to private companies and not-for-profit entities (NFP), standards applicable to a narrow industry and standards applicable to all FASB-regulated public and nonpublic entities. Also included is a brief overview of projects on FASB’s current agenda. The paper does not include activities by the Securities and Exchange Commission and Public Company Accounting Oversight Board. Changes in governmental accounting standards are in BKD’s paper, “GASB’s Year Ahead.” A summary of FASB’s simplification standards, most of which are available for early adoption, is in BKD’s paper, “Preparing for Year-End:  A Review of FASB's Standards to Simplify Accounting.”

BKD LinkedIn BKD Twitter BKD Youtube BKD Google Plus