As featured in our previous newsletter: “Understanding and Evaluating your Personal Financial Statements,” we learned that personal financial statements refer to a document or spreadsheet that highlights an individual’s financial position at a given point in time. The statements include information about the individual, such as a name or address, along with a personal balance […]
We often think of financial statements in the context of the business world where they are common place and are frequently used to gauge financial performance, determine a company’s value, satisfy bank and loan requirements, aid in strategic planning, amongst a host of other uses, the list is endless. On the flipside, we will focus […]
On December 13, 2023, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2023-08, “Accounting for and Disclosure of Crypto Assets.” The amendments in this long-awaited update revise the accounting for crypto assets under U.S. Generally Accepted Accounting Principles (GAAP) to better reflect the economics of crypto assets. Crypto assets, also known as […]