The Financial Accounting Standards Board (FASB) has announced that it will not add several potential projects to its future agenda. These projects include clarifying the scope and application of Topic 480, accounting for equity securities, eliminating the held-to-maturity classification for debt securities, making amendments to the accounting for held-to-maturity debt securities, and Topic 740, income taxes, backwards tracing. However, FASB has decided to keep a project on accounting for commodities on its research agenda for further consideration. FASB plans to discuss certain presentation and disclosure requirements for held-to-maturity debt securities during a future meeting. The decision to exclude the commodities project from the technical agenda was made in order to prioritize progress on the current environmental credits project. FASB Chair Richard Jones stated that the board will revisit the commodities project in the future once progress has been made on the environmental credits project.
FASB scraps future plans, goodbye potential projects on the agenda.
![](https://accountingpeek.com/wp-content/uploads/2023/10/The-Relationship-Between-Accounting-and-Marketing.webp)
Latest from News
![](https://accountingpeek.com/wp-content/uploads/2023/10/The-Evolution-of-Accounting.webp)
Discover the top small firms to work for in 2024.
TLDR: Each year, Accounting Today and Best Companies Group select the Best Accounting Firms to Work For. This slideshow features the top small category
![](https://accountingpeek.com/wp-content/uploads/2023/10/Choosing-an-Accounting-Specialization.webp)
Tighe, Kress & Orr, P.C. joins forces with EisnerAmper.
Tighe, Kress & Orr, P.C., Combines with EisnerAmper TLDR: EisnerAmper and Tighe, Kress & Orr, P.C. are combining in a strategic move expected to
![](https://accountingpeek.com/wp-content/uploads/2023/10/The-Role-of-AI-in-Accounting.webp)
SEC accuses ex-CIRCOR director of fraud: Catch the details now!
SEC charges former Circor International director with accounting fraud TLDR: SEC charges former Circor International director, Nicholas Bowerman, with accounting fraud. Circor was accused
![](https://accountingpeek.com/wp-content/uploads/2023/10/Forensic-Accounting-Unraveling-Financial-Crimes.webp)
Unleash the 3 Key Benefits of Automating Accounts Payable
TLDR: Manual accounts payable processes are slow, prone to errors, and resource-intensive. Automating accounts payable offers three key benefits: enhanced productivity, improved security, and
![](https://accountingpeek.com/wp-content/uploads/2023/10/balance-sheet-overview.jpg)
Long Beach’s Accountant Partners opens new office for local entrepreneurs.
TLDR: Accountant Partners, a small business accounting firm, has opened a new office in Long Beach, California. They offer tax planning, cloud accounting, and