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Crypto, Tax, Expense Accounting Proposals Targeted for 2023

Nov. 8, 2022, 7:47 PM

Expect action next year on three accounting issues considered top investor priorities—cryptocurrency, income tax disclosures, and income statement expense breakdowns—the chief of the US accounting rulemaker said Tuesday.

The Financial Accounting Standards Board plans to issue proposals by mid-2023, FASB Chair Richard Jones said at a Financial Executives International accounting conference. Momentum on these investor-focused proposals comes as FASB tackles criticism for focusing too much on making accounting easier for businesses at the cost of transparency for investors and analysts.

  • On income tax disclosures, FASB is considering forcing companies to break down tax details based on top jurisdiction or ...