Are you interested in what’s going on at the FASB and GASB? Then this section of the blog is for you. We’ll look at the active projects of these financial reporting standard setters and maybe a few other interesting topics that are important for CPAs!
Discover the latest updates to the AICPA’s FRF for SMEs with Melisa Galasso, including targeted changes designed for closely held, for-profit entities that don’t require full GAAP. Learn about new guidance on hosting arrangements, enhanced disclosures, and practical resources to support your financial reporting decisions.
Explore FASB’s latest proposal on accounting for digital assets, including stablecoin, with insights from Melisa Galasso on how these updates may impact cash equivalent classifications and disclosure requirements. Stay informed with actionable takeaways for CPAs seeking practical, up-to-date guidance on evolving financial reporting standards.
Explore highlights from the FASB’s 2026 Investor Outreach Report in this Genuine Learning Blog recap by Melisa Galasso. Gain practical insights into how the FASB actively engages investors, lenders, and other financial statement users to shape cost-benefit decisions and improve financial reporting standards. Perfect for CPAs seeking actionable takeaways and up-to-date developments in financial accounting.
Explore the FASB’s proposed targeted changes to hedge accounting, including updates for held-to-maturity debt securities, SOFR benchmarks, and cross-currency swaps. Melisa Galasso breaks down how these practical amendments can improve hedging strategies and align hedge accounting more closely with risk management goals.
Learn about the FASB’s proposal on discount rates for market-return cash balance plans, including key accounting changes, eligibility requirements, and upcoming comment deadlines. Stay informed on how evolving guidance may impact benefit obligation measurement and plan administration.
FOR NONPROFITS
Money Matters for Nonprofits demystifies financial statements and basic accounting, empowering nonprofit board members to better advise their organizations and make an even greater difference in the world.
Melisa F. Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting.
Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI. She also supports essential professional development, audit level training, and train the trainer efforts.
Melisa is a Certified Speaking Professional, a Certified Professional in Talent Development (CPTD), and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers.
She also serves on the FASB’s Not-for-Profit Advisory Committee (NAC), AICPA Council, and the AICPA’s Women’s Initiative Executive Committee (WIEC). She also serves as a Subject Matter Expert for the Center for Plain English Accounting. She previously served on the AICPA’s Technical Issues Committee (TIC), the VSCPA’s Board of Directors, and is a past Chair of the NCACPA’s A&A committee. In addition, Melisa is the author of Money Matters for Nonprofits: How Board Members Can Harness the Power of Financial Statements by Understanding Basic Accounting which is available on Amazon or anywhere you purchase books online.
Melisa received a Top 50 Women in Accounting Award in 2021 by Ignition, is a 2020 Enterprising Women of the Year Award recipient, and was honored as a “40 under 40” by CPA Practice Advisor in 2017, 2018, and 2019. She was also named the 2019 Rising Star by her regional NAWBO chapter, received the Don Farmer award for achievement in technical content instruction, and earned several other awards for public speaking and technical training.
