Genuine Learning Blog: ASU 2022-03

| ,

The FASB has issued ASU 2022-03 which is a niche standard providing clarification around restrictions on sale and their impact on the determination of fair value. The standards also includes an update to an illustration and new disclosure requirements. The standard is effective for public business entities for fiscal years beginning after December 15, 2023 and for all other entities for fiscal years beginning after December 15, 2024.

ACCOUNTING STANDARDS UPDATE 2022-03—Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (fasb.org)

Do you agree with the determination of fair value?

SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members. Melisa is a speaker on audit topics at SCACPA’s annual Spring Splash and Fall Fest conferences. She also takes part in many SCACPA seminars and rebroadcasts.

With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.

Transformation Trends: When Ransomware Hits a CPA Firm

Your accounting story can inspire the next generation. Join the Center for Accounting Transformation’s Agents of Transformation initiative to help reshape how students and career explorers see the future of accounting ...
READ MORE

Career Opportunity – Assistant Finance Director: Hilton Head Island

The Lowcountry Chapter of the Association of Fundraising Professionals is seeking a detail-oriented volunteer to serve as treasurer. This critical leadership role oversees the chapter’s finances, maintains accurate records, assists with budgeting, ensures timely deposits and filings, and helps process event income.
READ MORE

Transformation Trends: Shaping the Future of Accounting Together

Your accounting story can inspire the next generation. Join the Center for Accounting Transformation’s Agents of Transformation initiative to help reshape how students and career explorers see the future of accounting ...
READ MORE