This article expounds on the opposing arguments for the classification of crypto assets. Furthermore, it articulates FASB’s position on its new guidance and clarifies the accounting implications of ...

State schools Superintendent Ryan Walters, who promised to overhaul social studies standards for Oklahoma classrooms, released his set of proposed new standards on Thursday morning. In a news release ...

FASB published a proposed Accounting Standards Update (ASU) designed to improve the financial accounting for and disclosure of financial activities related to environmental credits and environmental ...

Excessive leverage, deficient collateral, volatile pricing, and a liquidity crunch contributed to the downfall of several crypto lenders, hedge funds, and exchanges in 2022—yet these risks were opaque ...

However, as FASB's role is to establish and improve financial accounting and reporting standards, this proposal only addresses amounts reported in financial statements. Measuring or tracking an entity ...

Thank you for reading my Art of Accounting columns posted on Accounting Today these past 11 years ... or to answer a colleague's question. To get the free PDF file, just email me at ...

Simplifying the new update, the FASB writes: “Fair value measurement aligns the accounting required for holders of crypto assets with the accounting for entities that are subject to certain ...

As of today, that changes. Yes, today is when the FASB fair value accounting rule, which passed in 2023, takes effect, allowing companies to report their bitcoin holdings at fair market value ...

The Financial Accounting Standards Board (FASB) has adopted Fair Value Accounting for Bitcoin. Companies holding Bitcoin will now report its value based on current market prices. The new rule may ...

Wrapped tokens were excluded from the scope of the new guidance since the FASB observed that such tokens could have unforeseen consequences. The Financial Accounting Standards Board (FASB) issued an ...

As of today, the Financial Accounting Standards Board will put its Fair Value accounting rules on BTC and other ... only to “fungible” intangible digital assets because it is difficult to obtain ...