Accounting Research Manager

The accounting updates below are provided courtesy of Accounting Research Manager, a subscription service that provides a timely and comprehensive online database of analytical accounting, auditing, and SEC information and authoritative literature. KnowledgeLeader members are eligible to receive a 15% discount if they would like to subscribe to Accounting Research Manager. Experience the full database by requesting a free CCH Accounting Research Manager trial.

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ACCOUNTING AND SEC HEADLINES:

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Goodwill Impairment – FASB Adds Agenda Project on Targeted Improvements to Goodwill Impairment Testing

As reported in its “Summary of Decisions” publication, the FASB met on July 29, 2026, and decided to add a project to its technical agenda on goodwill impairment testing to address: (1) the level at which goodwill is tested for impairment; and (2) the frequency of the testing.

GAAP Financial Statement Disclosures Manual – 2026-2027 Edition of GAAP Financial Statement Disclosures Manual Published

We have published a new edition of the 2026-2027 GAAP Financial Statement Disclosures Manual (the Manual), which provides comprehensive guidance on the subject of financial statement disclosures. Specifically, the Manual contains over 750 examples of practical sample footnote disclosures to assist in the preparation of financial statements for an audit, a review, or a compilation engagement.

This new edition is current through FASB Accounting Standards Update No. 2025-12, Codification Improvements.

Leases – New Edition of Accounting for Leases Interpretation Published

Since the July 2025 update to our publication, Accounting for Leases, we have made the following revisions and updates:

• Updated to reflect guidance on questions that have arisen in practice about the interaction of ASU 2021-05, Lessors Certain Leases with Variable Lease Payments, and the sale-leaseback rules.
• Updated the Recent Development section to discuss recent FASB Private Company Council (PCC) activities;
• Added a Practice Pointer in Chapter 1 to discuss an active project on the PCC’s agenda to research potential targeted improvements to lease accounting.

Financial Instruments – New Edition of Financial Instruments Interpretation Published

We have published the 2027 edition of Wolters Kluwer’s Financial Instruments. This publication is a comprehensive reference manual on accounting for financial instruments, including loans, securities, securitizations, and derivatives. This edition covers various changes in the area of financial instruments up through June 30, 2026, including updates related to several new Accounting Standards Updates, including:

• ASU 2025-05, Measurement of Credit Losses for Accounts Receivable and Contract Assets;
• ASU 2025-07, Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract;
• ASU 2025-08, Purchased Loans;
• ASU 2025-09, Hedge Accounting Improvements; and
• ASU 2026-01, Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock.

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