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Accounting & reporting

Final rule issued on access to beneficial ownership information

The director of the Financial Crimes Enforcement Network said the key changes from the proposed rule involve the scope of financial institution access to beneficial ownership information; limitations on offshore access to BOI; and streamlining procedures for state, local, and tribal law enforcement to gain access to BOI.

FASB seeks input on new chapter of conceptual framework

FASB issued a proposed new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements. If finalized, the chapter would represent the completion of the framework.

AICPA, NASBA approve revisions to CPE standards

The AICPA and NASBA approved revisions to The Statement on Standards for Continuing Professional Education (CPE) Programs, as well as the NASBA Fields of Study document.

FASB releases 2024 reporting taxonomies

The 2024 GAAP Financial Reporting Taxonomy and the 2024 SEC Reporting Taxonomy are now available, along with a taxonomy related to XBRL data.

FASB issues new cryptoassets standard

The Accounting Standards Update requires entities to report on certain fungible assets at fair value, with changes in fair value recognized in net income.

FASB issues new segment reporting guidance

The final Accounting Standards Update, required for annual periods beginning after Dec. 15, 2023, is designed to “improve financial reporting by providing additional information about a public company’s significant segment expenses” in a timely manner.

FASAB releases 3-year strategic plan, annual report

Intangible assets and climate-related reporting are among action items that the board, which is responsible for setting standards for federal government entities, will address in the coming years.

GASB addresses disclosure and classification of capital assets

GASB issued a proposal that would establish requirements for certain types of capital assets to be disclosed separately for purposes of note disclosures, allowing users to make informed decisions about these and to evaluate accountability.

SPONSORED REPORT

Preparing clients for new provisions next tax season

Preparing clients for new provisions next tax season

As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.

From The Tax Adviser

October 31, 2025

Recent developments in estate planning

October 31, 2025

Current developments in taxation of individuals: Part 2

September 30, 2025

Current developments in taxation of individuals: Part 1

August 30, 2025

2025 tax software survey