Heads Up

This Heads Up discusses the FASB's recently issued ASU 2023-01, which amends certain provisions of ASC 842 that apply to arrangements between related parties under common control.

This Heads Up discusses provisions of the FASB’s recently issued proposed ASU on the accounting for and disclosure of certain crypto assets.

This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update (ASU), "Improvements to Income Tax Disclosures," which would modify or eliminate certain existing income tax disclosure requirements in addition to establishing new requirements. The proposal is intended to improve the usefulness of income tax information for financial statement users while addressing investors’ requests for greater transparency in, and enhancements to, disclosures related to the rate reconciliation and income taxes paid. Comments on the proposed ASU are due by May 30, 2023.

This Heads Up highlights key provisions of the European Union’s recently approved Corporate Sustainability Reporting Directive (CSRD), whose sustainability reporting requirements are much broader than those proposed in the United States and will affect all companies with significant operations in E.U. jurisdictions, including U.S.-based companies with as little as one subsidiary or branch in the European Union.

This Heads Up summarizes the FASB’s and SEC’s most recent activity and discussions related to crypto assets.

This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2022-06, Deferral of the Sunset Date of Topic 848, which defers the sunset date of the guidance in ASC 848 on reference rate reform to December 31, 2024. The ASU became effective upon issuance.