The practice aid,Accounting for and Auditing of Digital Assets, includes a new definition for digital assets, new and amended accounting questions, and the introduction of new terms. The updates are in response to FASB Accounting Standards Update (ASU) No. 2023-08,Intangibles — Goodwill ...
The proposed ASU would be applied on a retrospective basis, that is, as of the beginning of the earliest period presented in the financial statements. Comments on the proposal are due by May 30, 2023. Read more on Take Into Account
Continue reading "FASB Publishes Proposed Improvements for 2025..." » Thursday, October 03. 2024 FASB Issues Proposed Improvements to Hedge Accounting for Review and Comment The Financial Accounting Standards Board (FASB) has released the proposed Accounting Standards Update (ASU), Derivatives and ...
ASU 2020-01 provides additional guidance in response to questions raised by stakeholders as a result of the adoption of ASU 2016-01, which added Topic 321, Investments – Equity Securities and provided an entity with the option to measure certain equity securities without a readily determinable ...