Expert Insights
Stay Informed, Stay Inspired
Let us be your resource for professional excellence!
Elevate your journey with the Genuine Learning Newsletter.
- Stay informed, inspired, and at the forefront of the industry.
- Know what is happening in the ever-evolving A&A fields.
- Links to a handful of monthly must read articles.
- Never miss our exclusive video blogs.
Packaged with essential updates, insightful industry analyses, and a wealth of resources!
“Your newsletters are so good, and I’ve recommended them to several people. It is imperative that I stay aware of the new standards released and no one writes better summaries than what you provide.”
Catch-up on Past Issues
February 2024 Newsletter
February 2024 was a quiet month, with no new standards but insightful meetings. The FASB delved into hedge accounting improvements on February 7, addressing feedback on proposed amendments. Discussions included identifying risk components in cash flow hedges and hedging variable risk components. On February 28, the FASB discussed profit interest awards and began redeliberation on the Purchased Financial Assets Project. The GASB remained relatively inactive, with upcoming discussions in March. The AICPA’s PEEC focused on various hot topics, aiming for convergence with the IESBA.
January 2024 Newsletter
In January, the FASB appointed new members to its Not-for-Profit Advisory Committee (NAC) and the GASB issued Statement 102, Certain Risk Disclosures. The NAC welcomed six new members for a four-year term. GASB’s Statement 102 aims to enhance risk disclosure in government financial statements, effective for fiscal years starting after June 15, 2024. Additionally, anticipation builds for the release of the new Yellow Book and the 2024 Compliance Supplement in the coming months.
Newsletter December 2023
December 2023 saw significant activity from the FASB, including the issuance of two new ASUs and a proposed ASU on convertible debt instruments. ASU 2023-08 addresses crypto asset accounting and disclosure, effective for fiscal years starting after December 15, 2024. ASU 2023-09 enhances income tax disclosures, with effective dates varying by entity type. The FASB also proposed an ASU to clarify convertible debt instrument settlements. Additionally, the AICPA commented on sustainability assurance standards, and PEEC released a new interpretation on public interest entities, aligning with IFAC requirements.