The Financial Accounting Standards Board (FASB) has issued its clarification to ASU 2020-04 for Reference Rate reform. The first ASU of 2021 focuses on the scope of the practical expedients and exceptions to GAAP offered as we navigate the movement away from LIBOR. The ASU is effective upon issuance.

“FASB Accounting Standards Update: Reference Rate Reform (Topic 848)”:

SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members. Melisa is be a speaker on audit topics at SCACPA’s annual Fall Fest and Spring Splash conferences. She also takes part in many SCACPA seminars and rebroadcasts.

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.