March 2023
Accounting rules are complicated, to say the very least, and they are subject to rather frequent changes. The Financial Accounting Standards Board (FASB) is in charge of maintaining Generally Accepted Accounting Principles (GAAP) for many government agencies and private organizations in the United States. At least five Accounting Standards Updates (ASUs) have gone into effect for various entities in 2023. The following provides an overview of the updated rules.
