FASB proposes targeted improvements to GAAP

FASB recently proposed a new ASU containing technical corrections and clarifications intended to improve GAAP.

The proposals include guidance concerning expected credit loss estimates, modified share-based payment awards and several other accounting topics.

The changes form part of the FASB’s ongoing project to make incremental improvements to its Accounting Standards Codification.

Public comments are open through Thursday, Nov. 19 — the same deadline for feedback on a separate proposal addressing whether stablecoins and certain other digital assets can qualify as cash equivalents.