In December, FASB issued a proposed chapter of the Conceptual Framework on measurement. The proposal identifies 2 systems of measurement: entry prices and exit prices. It provides the underlying theory that the board would use when determining which measurement system is appropriate when developing GAAP. Comments are due March 20, 2024.

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.

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.