PROJECT UPDATE

Accounting for and Disclosure of Digital Assets

Last updated on May 19, 2022. Please refer to the Current Technical Plan for information about the expected release dates of exposure documents and final standards.

(Sections updated on the date above are indicated with an asterisk *)

 

Objective:


The objective of this project is to improve the accounting for and disclosure of certain digital assets.

Background:


On December 15, 2021, in response to feedback received on the Invitation to Comment, Agenda Prioritization, FASB Chair Rich Jones added a project to the FASB research agenda to explore accounting for and disclosure of a subset of exchange-traded digital assets and exchange-traded commodities.

On May 11, 2022, the Board added a project to its technical agenda to improve the accounting for and disclosure of certain digital assets.

Exposure Draft(s):

There are no exposure documents at this time.

There are no media releases or educational materials at this time.

Decisions Reached at Last Meetings (May 11, 2022):


The Board added a project to its technical agenda to improve the accounting for and disclosure of certain digital assets.

The Board decided not to add to its technical agenda a project that would address the accounting for exchange-traded commodities; however, the chair decided that this topic would remain a research agenda project.

The Board meeting minutes, handouts, and videos are provided for the information and convenience of constituents who want to follow the Board’s deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions become final only after a formal written ballot to issue a final standard.

The following are links to the minutes for each meeting.  To view Board meetings and handouts from the past 90 days, click here.
 
May 11, 2022 Board Meeting—Board Meeting—The Board added a project to its technical agenda to improve the accounting for and disclosure of certain digital assets. The Board decided not to add to its technical agenda a project that would address the accounting for exchange-traded commodities; however, the chair decided that this topic would remain a research agenda project.

The Board will consider potential scope alternatives for digital assets at a future Board meeting.

Nicholas Cappiello
Supervising Project Manager
ntcappiello@fasb.org

Tiffany Wyszkowski
Project Manager
twyszkowski@fasb.org

Carolyn Warger
Practice Fellow
cwarger@fasb.org

Sally Bishop
Practice Fellow
sbishop@fasb.org

Justin Helm
Postgraduate Technical Assistant
jhelm@fasb.org

The staff has prepared this summary for information purposes only. Any Board decisions are tentative and do not change current accounting. Official positions of the FASB are determined only after extensive due process and deliberations.
 

×
×