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The FASB has posted to its Web site the meeting recap for the September 18, 2025, meeting of the Board’s Financial Accounting Standards Advisory Council (FASAC).

This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2025-08, Financial Instruments — Credit Losses (Topic 326): Purchased Loans, which amends the guidance in ASC 326 on the accounting for certain purchased loans. Under the ASU, entities must account for acquired loans (excluding credit cards) that meet certain criteria at acquisition (“purchased seasoned loans”) by recognizing them

The FASB has issued ASU 2025-08, which amends the guidance in ASC 326 on the accounting for certain purchased loans.

This Engineering and Construction Spotlight discusses considerations related to how entities in the construction industry should determine the presentation of material purchases used to fulfill revenue contracts recognized over time within disaggregated expense disclosures after adopting FASB Accounting Standards Update No. 2024-03, Disaggregation of Income Statement Expenses.