OCC Updates Annual Bank Accounting Advisory Series

The Office of the Comptroller of the Currency (OCC) has released its annual update to the Bank Accounting Advisory Series (BAAS). This update integrates recent revisions to accounting standards from the Financial Accounting Standards Board (FASB) concerning purchased loans, government grants, and internal-use software. The BAAS aims to ensure consistent application of accounting standards and regulatory reporting for national banks and federal savings associations.