FASB Issues Concepts Chapter on Recognition and Derecognition
The updated conceptual framework chapter addresses when an item should be included in or removed from financial statements.
GASB Proposal Provides Guidance on Certain Capital Assets
GASB’s latest exposure draft would provide new accounting guidance for disclosure and classification of certain capital assets. Comments are due January 5, 2024.
ED Publishes New Rules on Financial Responsibility and Transcript Withholding
The regulations aim to enhance oversight and accountability for institutions of higher education and strengthen consumer protections for student borrowers.