Concerns over divergent practices for reporting on the statement of cash flows led to FASB’s issuance Friday of a new standard for presenting and classifying certain cash payments and cash receipts.

FASB has proposed new requirements for the statement of cash flows designed to eliminate diversity in practice in the classification and presentation of changes in restricted cash. Current GAAP does ...

The low-value exemption is in addition to the short-term (less than or equal to 12 months) exemption that is also offered under ASC 842. Disclosures are still required for both low-value and ...