Financial Accounting Standards Board

  • Trailblazer Award: CFO Scott Waite’s Leadership Extends Beyond Patelco

    The $3.9 billion Patelco Credit Union experienced its most profitable year in the Pleasanton, Calif.-based institution’s 76-year history, with a $55.5 million net profit and 1.48% return on assets. In fact, last year’s earnings were more than the total of $37 million earned from 2005 to 2011 combined.

  • Guest Opinion: FASB’s Proposal on Liquidity and Rate Risk

    The Financial Accounting Standards Board recently released a proposed accounting standards update for financial instruments concerning new financial statement disclosures of liquidity risk and interest rate risk. The proposal is one portion of a joint project between FASB and the International Accounting Standards Board on the subject of accounting for...

  • California CFOs Are Looking Beyond Numbers Crunching

    At any credit union, the role of the chief financial officer is a tough one. He or she must create a roadmap to financial success by setting the right pricing strategy, effectively managing credit risk and streamlining operational costs. But in California, where high unemployment, an unsteady housing market and...

  • California CFOs Look Beyond Number Crunching: Print Preview

    New strategies for growth amidst high unemployment, lending losses in the Golden State. Find out more in this preview from next week's print edition.

  • Guest Opinion: New ALL Standards Are Coming

    In case you’ve missed it, significant efforts are currently underway to align U.S. accounting practices with standards that are followed in other parts of the world (the convergence process). To accomplish this monumental task, the U.S.-based Financial Accounting Standards Board is working closely with the International Accounting Standards Board.

  • Letter: TDR Reporting, Tracking Can Be Improved

    I am writing in response to both your article on TDR reporting (Nov. 2, page 1) and Michael Poulos’ response (Nov. 23, page 15). I wanted to offer some opinions on how to improve on a few of the issues imposed by TDR reporting and tracking.

  • Grappling With the World of Troubled Debt Restructuring Accounting

    Credit unions certainly were not immune from the affects of the Great Recession. As a result of the downturn, many members have become delinquent on outstanding loans. Over the past few years, many credit unions have been forced to either reduce or renegotiate the debt owed to them by numerous...

  • Accounting Board Backs Down On Mark to Market

    Credit unions could get a reprieve from the requirement that they book their loans at their current value on their balance sheets, as a result of decision made today by the Financial Accounting Standards Board.

  • New Rules Merging Credit Unions Need to Know

    Anyone in our industry can tell you that more members are being served by fewer credit unions today.

  • FASB Proposes Loan Mark to Market

    Credit unions would have to book their loans at their current value on their balance sheets under proposed rules issued by the Financial Accounting Standards Board.

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