Heads Up

This Heads Up provides in-depth coverage of the 2025 AICPA & CIMA Conference on Current SEC and PCAOB Developments.

This Heads Up briefly summarizes highlights from the 2025 AICPA & CIMA Conference on Current SEC and PCAOB Developments.

This Heads Up discusses FASB Accounting Standards Update No. 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements,” which is intended to improve the navigability of the guidance in ASC 270 and clarify when it applies. Under the amendments, an entity is subject to ASC 270 if it provides “interim financial statements and notes in accordance with GAAP.”

This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, which adds guidance to ASC 832 on the recognition, measurement, and presentation of government grants. In developing the ASU’s recognition and measurement framework, the FASB largely leveraged the guidance in IAS 20, to which many for-profit entities that apply U.S. GAAP have historically analogized when accounting for government grants.

This Heads Up discusses FASB Accounting Standards Update No. 2025-09, “Hedge Accounting Improvements,” which amends certain aspects of the hedge accounting guidance in ASC 815. In addition to addressing stakeholder concerns, the amendments are intended to more closely align hedge accounting with the economics of an entity’s risk management activities.

This Heads Up discusses the FASB’s decision to add the following two projects related to crypto assets to its technical agenda at its November 19 meeting: (1) “[e]xpanding the scope of Subtopic 350-60 to address wrapped tokens and receipt tokens” and (2) “[c]larifying the derecognition guidance for crypto transfer arrangements to assess whether the control of a crypto asset has been transferred.”