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Your Daily Accounting Briefing – 2024-05-11

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Let’s see what’s in the news today.

Young Ghanaian excels in global finance and accounting exam

Lilian Maimouna Nelson has become the latest Ghanaian candidate to achieve one of the highest marks in the world in her cohort of the CGMA Strategic Level Case Study Exam .

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Aerospace Gets Extra Accounting Guidance on Cost-Sharing Setups

Aerospace, defense, and oil and gas companies that embark on complex projects with other partners are getting extra guidance from US accounting standard-setters on how to report reimbursements before sweeping new expense disclosure requirements go live.

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US House passes measure overturning controversial SEC accounting bulletin

The House voted to pass a measure aimed at overturning an SEC bulletin that establishes certain accounting standards for firms holding crypto.

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House Advances Measure to Revoke SEC Crypto Accounting Bulletin

Republicans in the House moved to rescind two-year-old SEC guidance detailing how companies that safeguard their customers’ cryptocurrency holdings should book those assets.

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Bill To Undo SEC Crypto Accounting Bulletin Passes House

Lawmakers in the U.S. House of Representatives on Wednesday voted to overturn the U.S. Securities and Exchange Commission’s controversial cryptocurrency accounting guidance despite protests from Democrats to take a more targeted approach to amend the directive and a White House pledge to veto the bill.

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