The American Accounting Association, a group of accounting scholars and educators, is calling on the U.S. Department of Education to reverse course after the department proposed to remove accounting and other traditional professions from its definition of “professional degree” programs in a bid to reduce student loans. The AAA is
The Financial Accounting Standards Board decided during a meeting Wednesday to add a project to its technical agenda related to the accounting for cryptocurrency asset transfers. The project will include expanding the scope of an existing standard from 2023 on crypto assets to address wrapped tokens and receipt tokens, as
The Financial Accounting Standards Board released an accounting standards update Wednesday aimed at improving the accounting for purchased loans as it confronts a potential threat to its funding from Republicans in Congress. The accounting standards update would amend FASB’s credit losses standard in response to stakeholders who raised concerns about
The International Sustainability Standards Board plans to take up the activities of the Taskforce on Nature-related Financial Disclosures after the TNFD completes the technical work it currently has in progress by the third quarter of 2026. The TNFD then plans to pause the commencement of any further technical guidance work
Whitman Transition Advisors and asset management company Truvestments are launching a Bitcoin where CPA firms’ high-net-worth clients can buy in early. The Truvestment Bitcoin Legacy Fund is currently in its first phase of development wherein Phil Whitman, CEO of Whitman Transition Advisors, and Mike Williams, managing partner at Truvestments, are
The staff of the Federal Accounting Standards Advisory Board has issued new guidance on the accounting and reporting rules for federal land. Technical Bulletin 2025-1, Technical Clarifications: SFFAS 59, Accounting and Reporting of Government Land, clarifies the existing guidance in Statement of Federal Financial Accounting Standards 59, Accounting and Reporting
The International Federation of Accountants has named Thomas Müller-Marqués Berger as the new chair of the International Public Sector Accounting Standards Board, succeeding Ian Carruthers, who has chaired the IPSASB for 10 years. Berger has been global head of International Public Sector Accounting Standards for Ernst & Young GmbH, also
Courtesy of IFAC Globally, governments and the public sector are making slow but steady progress in adopting accrual-based accounting instead of cash-based accounting, according to a new report. Fully 56% of governments worldwide are expected to have moved to accrual accounting by 2030, according to the new “International Public Sector Financial
The American Institute of CPAs and the National Association of State Boards of Accountancy are sunsetting the Experience, Learn and Earn program at the end of the fall 2025 semester. The ELE program, which was designed to help early-career accountants achieve the 150-credit-hour requirement for CPA licensure at an affordable
The Financial Accounting Standards Board posted an accounting standards update to update the guidance on accounting for internal-use software costs. The amendments in the update apply to all entities subject to guidance in FASB Accounting Standards Codification Subtopic 350-40, Intangibles—Goodwill and Other—Internal-Use Software. “Modernizing software accounting guidance was a top