The FASB has issued ASU 2022-03 which is a niche standard providing clarification around restrictions on sale and their impact on the determination of fair value. The standards also includes an update to an illustration and new disclosure requirements. The standard is effective for public business entities for fiscal years beginning after December 15, 2023 and for all other entities for fiscal years beginning after December 15, 2024.

ACCOUNTING STANDARDS UPDATE 2022-03—Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (

Do you agree with the determination of fair value?

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 a speaker on audit topics at SCACPA’s annual Spring Splash and Fall Fest 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.