U.S. accounting rulemakers are to debate and vote April 3 on whether to proceed with a proposal championed by mid-sized banks—including BB&T Corp., Capital One Financial Corp., and Regions Financial Corp.—to change a key piece of the Financial Accounting Standards Board’s credit losses accounting standard.
FASB “staff will present us everything that they’ve heard, and they’ve heard a lot of private conversations,” board Chairman Russell Golden told Bloomberg Tax after a meeting of the FASB’s parent organization, the Financial Accounting Foundation.
“It’s hard to know until we’ve had the deliberations” where the proposal will go, Golden said.
- The proposal...
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