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Tag: FASB

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Regulatory Focus on Crypto Continues as FASB Tentatively Approves New Accounting Standards

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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...

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PCAOB: Audits Getting Sloppier

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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...

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FASB Issues Proposed Update for Crypto Accounting

smashed can on street

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...

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FASB Renews Call for Deeper Disclosures on Income Taxes

Horseshoe on a barn wall as a good luck charm

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...

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FASB (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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