Fair Value Measurement to be Applied to Digital Assets (Cryptos) Under US GAAP
TLDR On October 12, 2022, the FASB (Financial Accounting Standards Board) unanimously voted to require companies to measure crypto at their fair value at the end of each reporting period. The discussions can be seen here: Crypto Accounting Under Current US GAAP In December 2019, the AICPA (American Institute of Certified Public Accountants) released […]
SEC Releases SAB121 – US GAAP Accounting For Assets Held in Custody of Customers by Crypto Exchanges
Background On March 31, 2022, the SEC released Staff Accounting Bulletin No. 121 (SAB 121). This SAB expresses the view of the SEC staff regarding the accounting treatment for crypto-assets that are reporting entity safeguards for its platform users (customer crypto-assets). Exchanges that are responsible for safeguarding customer crypto-assets should present a liability on its […]
Mandatory English Financial Disclosures Coming
Mandatory English Financial Disclosures Coming to the Tokyo Stock Exchange Starting with English disclosures of quarterly financial information A Nikkei article on March 15, 2019 caught our attention. “Tokyo Stock Exchange to reduce first section listings by 30% – Market cap requirement to be raised and English disclosures mandated” https://asia.nikkei.com/Business/Markets/Tokyo-Stock-Exchange-to-reduce-first-section-listings-by-30 There is an ongoing deliberation […]
