In this section, we provide brief updates from the previous quarter on regulatory developments that may impact U.S. Japanese companies.
FASB project on government grants
November 2023
The FASB discusses a model for business entities to account for government grants.
SEC adopts rule – Pay vs performance disclosures
November 10, 2023
SEC final rule targets disclosure of the relationship between executive compensation and company performance.
SEC adopts amendments to share repurchase disclosure rules
November 2023
The rules expand quarterly, semi-annual and annual filing disclosures, depending on filer type.
FASB issues final ASU on disclosure changes
October 2023
ASU 2023-06 updates US GAAP disclosures in response to the SEC’s disclosure update and simplification initiative.
ESG in the US – California introduces climate disclosures and assurance
October 2023
The ESG reporting landscape expands with the addition of broad reaching state-level climate disclosure rules.
FASB project on environmental credit programs
October 2023
The FASB continues to discuss the accounting for compliance and other environmental credits.
EITF consensus – induced conversions of convertible debt
October 6, 2023
EITF reaches consensus-for-exposure on induced conversion accounting for convertible debt instruments.
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SEC amends the fund ‘Names Rule’
September 2023
Amendment seeks to enhance transparency and provide better investor clarity into a fund’s strategy.
FASB continues future software cost accounting debate
September 2023
FASB made tentative decisions on software cost recognition and next steps for its project staff.
Insurance: NAIC 2023 Summer meeting
September 2023
Report on actions and discussions about ongoing projects on conference calls and at the NAIC 2023 Summer meeting.
FASB to issue final crypto asset accounting ASU
September 2023
The final ASU will codify fair value accounting and new disclosures for crypto assets like bitcoin and ether.
FASB issues ASU for joint venture formations
August 24, 2023
The ASU 2023-05 requires a joint venture formation transaction to be measured at fair value.
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