2025 FASB ASC MFCs: Revenue Standard Continues to Challenge

This month we unveil the Top 10 list of FASB Accounting Standards Codification (FASB ASC) Topics cited in Matters for Further Consideration (MFC) in peer review. The list, with one notable exception, is the same as last year with the top 4 FASB ASC Topics remaining unchanged. The newcomer to the list is FASB ASC 326, Financial Instruments Credit Losses, which reflect the initial adoption of the current expected credit losses (CECL) model. In our previous report, FASB ASC 326