Jennifer Hitchcock

Dec 19, 2023 | jdsupra.com | Ran Ben-Tzur |Jennifer Hitchcock

The Financial Accounting Standards Board (FASB) has issued a new accounting standard to improve the accounting for and disclosure of certain crypto assets. The new standard marks a significant change in how companies account for crypto assets held. Under the new standard, companies will recognize changes in the fair value of crypto assets held in each reporting period, with adjustments to fair value—either downward or upward—being reflected in a company’s financials.

Nov 6, 2023 | jdsupra.com | Ran Ben-Tzur |Jennifer Hitchcock |Kevin Kirby

On October 31, 2023, the U.S. Government Accountability Office (GAO) published a formal decision concluding that the Securities and Exchange Commission (SEC) failed to follow prescribed Congressional Review Act (CRA) procedures in its 2022 issuance of Staff Accounting Bulletin No. 121 (SAB 121).