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FASB proposes update on accounting for software development

Accounting Today

The Financial Accounting Standards Board issued a proposed accounting standards update to update the guidance on accounting for software, specifically when it comes to developing software for internal use.

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FASB limits project on accounting for software costs

Accounting Today

The Financial Accounting Standards Board decided to pursue targeted improvements to its rules for accounting for and disclosing software costs, instead of a single overarching model.

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Financial Accounting Foundation executive director to retire

Accounting Today

John Auchincloss will retire in September 2025 from the FAF. The search for his successor will begin immediately.

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Financial Accounting Foundation looks for new trustees

Accounting Today

The FAF, which oversees FASB and GASB, is asking for nominations for at-large trustees.

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Hillary Salo named as FASB vice chair

Accounting Today

The Financial Accounting Foundation announced Hillary Salo as the next vice chair of the Financial Accounting Standards Board.

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Avoid These Common Accounting Mistakes for Growing Businesses

Accounting Department

One crucial area that requires meticulous attention is accounting. Proper accounting practices are the backbone of financial stability and growth, yet many small to medium-sized businesses (SMBs) often overlook them. Growing a business can be an exhilarating experience, but it comes with its fair share of challenges.

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FASB approves crypto asset standard

Accounting Today

The Financial Accounting Standards Board voted to adopt its eagerly awaited standard for cryptocurrency like Bitcoin held by companies.