16 Apr.

Navigating the new FASB ASU: Deep dive into crypto assets & fair value

Financial Reporting

Tuesday, 12:00 p.m.  ET
Credits offered: CPE Event language: English

Participants will have the opportunity to analyze the FASB’s new accounting guidance and learn about implementation considerations companies should be aware of as the new standard is adopted.


Key takeaways

Host: Amy Park, partner, Deloitte & Touche LLP

Presenters: William (Bill) Fellows, partner, Deloitte & Touche LLP
                      PJ Theisen, partner, Deloitte & Touche LLP

1.0 Overview CPE credit | Accounting

On December 13, 2023, the FASB issued ASU 2023-08, which addresses the accounting and disclosure requirements for certain crypto assets. The new guidance requires entities to measure certain crypto assets at fair value, with changes in fair value recorded in net income each reporting period. In addition, entities are required to provide supplemental disclosures about the holdings of certain crypto assets. We’ll discuss:

  • The new requirements and scope of the ASU
  • Additional disclosure requirements
  • Implementation considerations, specifically around fair value measurements for crypto assets

Meet the speakers

Amy Park

Amy Park

Partner | Deloitte & Touche LLP

Amy is a US Audit & Assurance Blockchain & Digital Assets partner and a partner in Deloitte’s National Office Accounting and Reporting Services specializing in technical accounting matters in consolidation, financial instruments, and accounting for digital asset transactions. She serves companies in both an advisory and audit capacity that operate in the blockchain ecosystem or have complex digital asset transactions, with a focus on accounting and financial reporting. She is a member of the American Institute of Certified Public Accountants and serves on the AICPA’s Digital Assets Task Force, focusing on accounting matters related to digital assets. Amy has more than 15 years of experience in public accounting, including a practice fellowship at the Financial Accounting Standards Board, and has served public and private companies in the banking and securities, investment management, and digital assets industries.

William (Bill) Fellows

William (Bill) Fellows

Partner | Deloitte & Touche LLP

Bill is a partner in Deloitte Risk & Financial Advisory, where he specializes in financial instruments and transactions valuation, accounting and risk management. He helps his clients with a range of issues, including governance, strategy, transaction structuring and model risk management. Bill leads Deloitte’s derivatives & hedging advisory services, which provides a range of services to corporate derivatives users, including exposure identification, hedge strategy development and maintenance of hedge accounting. He has extensive experience assisting financial institutions with financial instruments and transactions accounting under both International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (US GAAP). Bill co-leads Deloitte’s Audit Valuation practice, overseeing all derivatives, MSR and securities valuation specialists as they support Deloitte’s audit practice. Bill holds a Master in Business Administration from the MIT Sloan School of Management, with a focus on financial engineering and strategy. Bill is a Certified Public Accountant (CPA) in California and New York.

PJ Theisen

PJ Theisen

Accounting Services | Deloitte & Touche LLP

PJ Theisen is an Audit & Assurance Partner in Deloitte’s National Office Accounting and Reporting Services Group specializing in technical accounting matters in the areas of financial instruments, revenue recognition, and accounting for digital asset transactions under US GAAP and IFRS. Also, he serves companies in both an advisory and audit capacity that operate in the blockchain, technology, and life science industries, with a focus on accounting and financial reporting. He is also involved in monitoring standard setting by the FASB and other regulators and developing related thoughtware. He previously served as a Professional Accounting Fellow in the SEC’s Office of the Chief Accountant, consulting with SEC registrants and other offices and divisions within the SEC and liaising with standard setting bodies and other regulators both in the US and abroad. PJ received a BA in accounting and finance from the University of St. Thomas, Opus College of Business. He is a Certified Public Accountant in Washington, D.C. and Minnesota.

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