A&A TODAY: PRESENTED BY THE WSCPA AND GALASSO LEARNING SOLUTIONS
The FASB has issued an update to the definition of key elements in the Concept Statements. The definitions of an asset, liability, revenue and expenses have all received an update. This blog will discuss what's changing and how the concept statements interact with the writing of ASUs.
Do you agree with the changes to the definitions?
To learn more about important accounting and auditing developments, join us for an upcoming CPE program with Melisa Galasso.
WSCPA is excited to partner with Galasso Learning Solutions to provide A&A Today, real-time A&A updates and answers. Check the WSCPA blog often for new episodes or subscribe on YouTube.
With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.