FASB to Become More Diverse with New Board Appointment, Plus New Trustee Chair Named
The Financial Accounting Foundation (FAF) on Nov. 15, 2022, said Joyce Joseph was appointed to the FASB to succeed current …
Don’t Drop Efforts on Accounting Rules for Government Grants, Small Public Filers tell FASB
The FASB’s current research on accounting for government grants should be advanced to its rulemaking agenda – and as a …
Staff Accounting Bulletin on Crypto Safeguarding Obligations is Not SEC Rule, Senior Official Says
During a financial reporting conference, the SEC’s top accounting official emphasized that Staff Accounting Bulletin (SAB) No. 121 related to safeguarding obligations …
FASB Chair: Crypto Accounting Proposal Coming in First Half of 2023
A FASB proposal on the accounting for cryptocurrencies will be issued during the first half of next year to solicit …
U.S. Accounting Rulemakers Agree That Crypto Assets Should be Measured at Fair Value
Cryptocurrencies – tokens like Bitcoin and Ethereum – should be measured at fair market value as that reflects the underlying …
FASB Proposes Biggest Changes in 25 Years for Public Company Disclosure of Business Unit Expenses
The FASB on Oct. 6, 2022, issued a proposal that would require public companies to disclose any significant expenses that …
U.S. Accounting Rulemakers Pressed Overseas About Feds’ View of Crypto Project
The FASB was asked during a joint discussion with the International Accounting Standards Board (IASB) whether the board “touched base” …
Newly Minted FASB Rules on Supplier Finance Programs Will Reveal Financial Health of Companies
Starting next year, U.S. companies that use supplier finance programs to buy goods or services must disclose the full terms …
Other Regulators are Discussing Implications of SEC Staff Accounting Bulletin on Crypto Safeguarding Activities
In response to a question at a conference about whether the Public Company Accounting Oversight Board is thinking about providing …
Private Companies Don’t Want to be Struck Out of Crypto Accounting Rules Being Developed
Private Company Council (PCC) Chair Candace Wright on Sept. 22, 2022, said new accounting rules the FASB is developing for …