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US Week in Review: Week ending 14 November 2024


The US Week in Review highlights this week’s developments and emerging issues in the financial reporting world and gives you direct access to relevant technical accounting guidance and thought leadership produced by EY.

What’s new from EY

Comment letter on FASB’s proposal on the accounting for share-based consideration payable to a customer

Register for our Navigating interest rate, FX and commodity volatility with derivatives webcast on 3 December

Our Navigating interest rate, FX and commodity volatility with derivatives webcast will be held on 3 December at 12 p.m. Eastern time.

Register for our quarterly financial reporting webcast on 12 December

Our What you need to know for Q4 2024 financial reporting webcast will be held on 12 December from 1 p.m. to 2 p.m. Eastern time.

Standard Setter updates

Financial Accounting Standards Board (FASB)

FASB proposes clarifying interim disclosure requirements

The FASB proposed amendments to clarify the current interim disclosure requirements and the applicability of Accounting Standards Codification 270, Interim Reporting. The proposal would create a comprehensive list of interim disclosures required under US GAAP and incorporate a disclosure principle that would require disclosures at interim periods when an event or change that has a material effect on an entity has occurred since the previous year end. Comments are due by 31 March 2025. See our upcoming To the Point.

FASB to host webcast on standard-setting activities related to private companies and not-for-profit organizations on 12 December

FASB to discuss adding a project to its technical agenda on Issuance of new debt to repay old debt and clarifying adoption timing for its ASU on the disaggregation of income statement expenses at its 20 November meeting

Upcoming webcasts

Navigating interest rate, FX and commodity volatility with derivatives
3 December 2024, 12 p.m. Eastern time

Challenging the status quo: exploring today’s compliance trends
4 December 2024, 2 p.m. Eastern time

What you need to know for Q4 2024 financial reporting
12 December 2024, 1 p.m. Eastern time

What audit committees need to know for 2025
19 December 2024, 3 p.m. Eastern time

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