Accounting Standards
FASB Issues Long-Awaited Exposure Draft on Crypto Asset Accounting
Board said fair value accounting was the right method for crypto assets, not the current cost-less-impairment model.
FASB Sets Out Plan to Improve Income Tax Disclosures
The proposed ASU addresses investor requests for more transparency about income tax information.
FAF Now Provides Unfettered Online Access to FASB, GASB Accounting Standards
As a result of this change, the former “Professional View” paid subscription service has been eliminated.
GASB Proposes New Guidance for Subscription-Based IT Services
If cleared as final implementation guidance, the question and answer in this supplemental Exposure Draft will be added to previously exposed questions and ...
FASB Votes to Move Ahead with Proposed Crypto Asset Accounting Standard
Companies would be required to measure crypto assets, like Bitcoin and Ethereum, using fair value accounting.
FAF Widens Access Online to FASB and GASB Standards
FAF hasn’t set a firm date for this change to online access to accounting standards, but it’s expected this spring.
FASB Decides to Defer Sunset Date of Reference Rate Reform Guidance
The ASU extends the period time for financial statement preparers to use the reference rate reform relief guidance.
FASB Improves Certain Transition Requirements in Long-Duration Insurance Rules
The Accounting Standards Update approved by the FASB on Dec. 15 amends transition guidance in ASU No. 2018-12.