Your Daily Accounting Briefing – 2024-03-22

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Let’s see what’s in the news today.

Fast-Weigh Bulk Material Accounting Software Announces New Silo Loadout Module

KNOXVILLE, Tenn.–(BUSINESS WIRE)–Mar 20, 2024–

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EY Partner to Serve as Accounting Board’s Technical Director

An Ernst & Young LLP partner whose almost four-decade career includes working at the Securities and Exchange Commission will serve as the Financial Accounting Standards Board’s next technical director, FASB said Wednesday.

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Senators introduce bill to curb GRAT tax break

A pair of lawmakers proposed a bill to end the abuse of grantor-retained annuity trusts to avoid taxes.

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2024 GAAP Taxonomy Approved By SEC

The SEC has accepted the taxonomies on GAAP financial reporting and SEC reporting, the FASB said on March 19.

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Short Seller Alleges Accounting Manipulation, Operational Issues At REIT Equinix

Hindenburg Research is accusing data center giant Equinix of manipulating its accounting to overstate profitability, citing interviews with former employees.

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Short seller claims Equinix has accounting issues and operational problems.

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“FASB clears the air on profits interest awards guidance.”

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