
Tag: FASB
SubscribeRegulatory Focus on Crypto Continues as FASB Tentatively Approves New Accounting Standards
In keeping with U.S. regulators’ efforts to get a grip on cryptocurrency, the Financial Accounting Standards Board last week tentatively approved much-anticipated rules affecting how businesses account for and disclose crypto assets. The ne...
Read MorePCAOB: Audits Getting Sloppier
The overall quality of audit work has been poor for years and is only getting worse, according to a recent report from the Public Company Accounting Oversight Board. The report detailed the preliminary findings of the PCAOB’s annual inspect...
Read MoreFASB Issues Proposed Update for Crypto Accounting
When it comes to regulating cryptocurrency, the federal government for roughly a decade has taken the de facto position of kicking the can down the road. Even though the task of defining what crypto is has flummoxed regulators, that hasn’t...
Read MoreFASB Renews Call for Deeper Disclosures on Income Taxes
Is the third time really a charm? That’s the hot question floating around the offices of the Financial Accounting Standards Board in Norwalk, Connecticut, as the group once again pushes for expanding disclosure of corporate income taxes. Th...
Read MoreFASB (Finally) Backs Fair-Value Accounting for Cryptocurrency Assets
Cryptocurrency enthusiasts don’t exactly seem like rule-following types. In fact, defying convention likely makes up much of crypto’s appeal for many digital-token owners. Pesky things like accounting standards probably don’t even show up o...
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