New Crypto ASU 2023-08 : Camber is Your Partner in Adopting the New Standard

In July 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-08, addressing the accounting for crypto assets. This update introduces standardized guidelines for measuring and disclosing certain crypto assets, which is crucial for organizations involved with digital currencies. Not all crypto assets are in scope of the new ASU, so companies will need to carefully review their assets against the guidance. In addition, the new disclosure requirements are extensive and vary between year of adoption and thereafter and between interim and year end periods.

 Camber Consulting offers guidance to help businesses navigate these new accounting and reporting requirements, providing tailored solutions to fit your organization's specific needs, from assessing current crypto accounting practices to guiding future accounting and enhancing financial disclosures. In addition to implementation, we offer training and ongoing support, keeping your team informed of any future developments. With Camber Consulting, your organization can confidently manage the challenges of ASU 2023-08.

 Contact us for more information on how we might be able to help.