FASB Sets The Rules

The video discusses the new revenue recognition standard and its global impact, emphasizing the importance of consistent disclosure standards. It compares the challenges of implementing new accounting standards like leases, credit losses, and hedging. The video also highlights the significance of convergence efforts with international accounting bodies and addresses segment reporting and non-GAAP metrics.

What are the implications of the new accounting standards for financial institutions?

What is the significance of convergence in accounting standards according to the FASB?

How does the FASB plan to address the uncertainties around segment reporting?

What role do investors play in shaping the accounting standards set by the FASB?