ASU 2021-07

by WSCPA | Nov 15, 2021

A&A Today: Presented by the WSCPA and Galasso Learning Solutions

The Financial Accounting Standards Board (FASB) has issued another private company alternative, ASU 2021-07, Determining the Current Price of an Underlying Share for Equity-Classified Share-Based Awards. This is a result of the work of the PCC and their goal to help leverage pre-existing information in pricing shares. The practical expedient is effective prospectively for fiscal years beginning after December 15, 2021. Early adoption is permitted for financial statements that have not yet been issued or made available for issuance as of its issuance today. 

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Melisa Galasso headshotWith 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.

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