Jul 1, 2026 | Newsletter
June brought a full slate of accounting and auditing developments. FASB activity included PCC, EITF, and Joint FASB/IASB meetings, along with continued agenda prioritization. GASB advanced discussions on infrastructure assets, going concern uncertainties, severe financial stress, and revenue and expense recognition. Meanwhile, the ASB approved SAS 150 on External Confirmation Procedures, PEEC issued an exposure draft on Public Interest Entities, and the profession continues watching for the delayed 2026 Compliance Supplement. The IRS Office of Professional Responsibility also drew attention with guidance on how Circular 230 applies to tax practitioners’ use of AI.
Jun 10, 2026 | Accounting, Genuine Learning, Government
Explore GASB’s discussion memo on the structure of GAAP with Melisa Galasso as she breaks down the proposal to move toward a single authoritative source for governmental accounting standards, compares the current dual authority model with FASB’s codification approach, and highlights key stakeholder feedback and upcoming changes.
Jun 3, 2026 | Newsletter
May was a busy month in standard setting. FASB covered a wide range of topics, including CECL, intangibles, the equity method, nonrefundable tax credits, mortgage servicing rights, and environmental credits. GASB continued its work on revenue and expense recognition, along with going concern uncertainties and severe financial stress. Meanwhile, the AICPA’s major standard-setting committees were also active, including ASB approval of SAS 150 on external confirmations. And yes, we are still not so patiently waiting for the 2026 Compliance Supplement.
May 15, 2026 | Accounting, Genuine Learning, Government
Explore the latest GASB exposure draft on infrastructure assets with Melisa Galasso as she breaks down proposed amendments to GASB 34, clarifies definitions, outlines new disclosure requirements, and highlights actionable insights for improving financial reporting consistency in governmental accounting.
May 1, 2026 | Newsletter
Stay current with April’s standard-setting activity, including key Financial Accounting Standards Board discussions on crypto assets, cash flow improvements, and a new ASU on paid-in-kind dividends. This update also covers Governmental Accounting Standards Board exposure drafts, upcoming meetings for the Auditing Standards Board and Accounting and Review Services Committee, and the latest on the 2026 Compliance Supplement timeline.
