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!
https://youtu.be/gcctm_Ksmgg In March 2019, the FASB issued an ASU changing the definition of a collection to allow proceeds of a sale of a collection item to be used for the “direct care” of existing collection items. However, ASU 2019-03, did not address the...
https://youtu.be/EsuIrZXJlwA The AICPA is rolling out a new certification for valuation professionals. The CVFI will focus on valuation of financial instruments like credit default swaps, complex bonds, mortgage-backed securities and other derivatives. The credential...
https://youtu.be/E0ygQ69NKFw As part of the Disclosure Framework Project, FASB has issued a revised proposed ASU related to Income Taxes (Topic 740). The Proposed ASU, Disclosure Framework- Changes to the Disclosure and Requirements for Income Taxes, adds new...
https://youtu.be/cDshpHtgIKA Our quarterly blog addresses the standards issued during the prior quarter. The first quarter of 2019 was pretty light. The first three ASUs of 2019 weren’t issued by the FASB until March. Addressing niche topics like the definition of...
https://youtu.be/T5bUHvFj6cQ GASB has issued a Proposed Implementation Guide for Leases. The 49 pages include 80 new questions and 3 illustrations. GASB 87 is effective for reporting periods beginning after December 15, 2019. The standard will bring significant...
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.
