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!
The Financial Accounting Foundation (FAF) and the Private Company Council (PCC) have released their 2024 annual reports, highlighting key accomplishments, stakeholder engagement, and strategic priorities. The FAF report covers activities of the FASB and GASB, including new standards, outreach efforts, and financial statements. The PCC report features 2024 highlights, strategic updates, and a message from the Chair.
From future-focused strategy to real-time advocacy, the 2025 AICPA Spring Council was a dynamic experience filled with bold ideas and impactful conversations.
The FASB is asking a big question: Should we rethink how we recognize intangibles on the balance sheet? In its newly released Invitation to Comment: Recognition of Intangibles, the Board explores whether current GAAP adequately reflects today’s innovation-driven business models—especially when it comes to internally developed assets like R&D, software, and brand value.
In our Q1 2025 in Review Blog, we look at the standard setting activities of the FASB, GASB and AICPA. The first quarter had a flurry of activities with promises of more standards coming down the pike. This is a great way to keep up to date during busy season without getting in the weeds!
In this week’s blog, we take a closer look at the UAA Exposure Draft and the recent AICPA Regional Council Meeting. The AICPA hosted four Regional Council Meetings across the country, with each location bringing together different state council members. The discussions were engaging, energizing, and focused on the future of the CPA profession.
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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.
