First Quarter — 2025
We're pleased to present Quarterly Accounting Roundup: First Quarter — 2025. Key
accounting, financial reporting, and regulatory developments in the first quarter of
2025 include:
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The FASB’s release of (1) an Accounting Standards Update (ASU) clarifying the effective date of its ASU on disclosures about disaggregation of income statement expenses, (2) a proposed ASU that would make technical corrections and other minor improvements to the FASB Accounting Standards Codification, and (3) an invitation to comment that requests feedback on the Board’s future standard-setting agenda.
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The SEC’s release of Staff Accounting Bulletin (SAB) No. 122, which rescinds SAB 121 on safeguarding crypto asset obligations, as well as the Commission’s establishment of a new Crypto Task Force.
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The SEC’s release of statements on (1) certain proof-of-work mining activities and (2) meme coins.
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The SEC's announcement that it is ending its defense of its March 2024 final rule on climate-related disclosures against parties that have legally challenged the rule.
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The IASB’s release of the third edition of its IFRS for SMEs.
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The European Commission’s issuance of proposals that would delay, for some companies, and simplify the European Union’s sustainability reporting requirements.