Citing No Case for Change, FASB Drops Project to Fix Acquisition Accounting Rules
The FASB on June 15, 2022, unanimously voted to drop its project aimed at improving the accounting for asset acquisitions …
Beyond Jarkesy, SEC Administrative Proceedings Face Attacks on Multiple Fronts
The Fifth Circuit’s decision in Jarkesy v. SEC may not be the death blow to the SEC’s enforcement regime it’s …
Will SEC Proposal on Workforce Include Accounting Requirement?
The SEC has been working on a rule proposal that is intended to increase the amount of information public companies …
FASB to Issue Report by Early July on Results of Agenda Outreach Efforts
The FASB plans to issue a report by early July that will summarize how input the board received on its …
SEC Charges Software Company for Improper Accounting
The SEC on June 7, 2022, said that it charged software company Synchronoss Technologies, Inc., for improper accounting of revenues …
FASB Plans to Mull Feasibility of Standardizing EBITDA, Other Key Performance Metrics
Research on FASB’s efforts to study the feasibility of standardizing the definition of financial key performance indicators (KPIs) for business …
Industry Groups Seek Bank Exemption from SEC Guidance on Crypto Platform Accounting
The Securities Industry and Financial Markets Association (SIFMA) and Bank Policy Institute (BPI) on May 19, 2022, said regulated banks …
Elon Musk, Mark Cuban, and Others Urge Supreme Court to Review SEC Gag Policy
Billionaires Elon Musk and Mark Cuban, free-market think tanks, constitutional scholars, and others on April 22, 2022, urged the Supreme …
Too Early to Pinpoint Accounting Issues on ESG for Private Companies, Panel Says
It is still too early to address Environmental, Social, and Governance (ESG) accounting issues for private companies as no prevalent …
Much Talk, Little Action on Cryptocurrencies Among Cities and States, GASB Says
GASB research on cryptocurrencies so far dug up much talk by states backed with little action, making standard-setting largely moot …