Research

The FASB Standards Report 2026: Accounting Standards Updates and Their Adoption

By The Ledgerism Editorial Team · The Ledgerism Brief Editorial Team produces original, methodology-disclosed accounting and tax research—data trackers, databases, and reference guides built to be the most-cited source in the field. Every figure is verified against primary sources including FASB, the IRS, the PCAOB, NASBA, the AICPA, and state boards of accountancy.

A reference on Financial Accounting Standards Board (FASB) standard-setting output, the current technical agenda, and the effective dates and transition methods for the major recent U.S. GAAP standards. All figures carry their exact source and date. The FASB numbers each Accounting Standards Update (ASU) sequentially within a calendar year (for example, 2025-01, 2025-02), so the highest sequential number issued in a year is used as the annual count, cross-checked against the issuer PDFs. Gaps in numbering are flagged where found.

Last updated: 2026-06-29. All dates are U.S. (FASB sets U.S. GAAP).

Executive summary

• The FASB issued 12 numbered ASUs in 2025 (through ASU 2025-12, Codification Improvements, December 2025), the highest annual count in the 2020 to 2025 window reviewed here. Source: FASB ASU list and ASU 2025-12 PDF, storage.fasb.org.
• The FASB issued 4 numbered ASUs in 2024 (2024-01 through 2024-04). Source: FASB ASU list; KPMG FRV reference library, 2024.
• ASU 2023-08 (crypto assets, Subtopic 350-60) requires fair value measurement of in-scope crypto assets and is effective for all entities for fiscal years beginning after December 15, 2024, on a modified retrospective basis. Source: FASB, ASU 2023-08, issued December 13, 2023.
• ASC 606 (revenue, ASU 2014-09) took effect for public entities in annual periods beginning after December 15, 2017, and for nonpublic entities in annual periods beginning after December 15, 2018, with full or modified retrospective transition. Source: FASB ASU 2014-09, May 2014.
• ASC 842 (leases, ASU 2016-02) took effect for public business entities in fiscal years beginning after December 15, 2018, and for private companies after December 15, 2021, using a modified retrospective approach. Source: FASB ASU 2016-02, February 2016.
• ASC 326 (CECL, ASU 2016-13) took effect for SEC filers other than smaller reporting companies in fiscal years beginning after December 15, 2019, and for smaller reporting companies, private companies, and not-for-profits after December 15, 2022. Source: FASB ASU 2016-13; Federal Reserve CECL FAQ.
• ASU 2023-07 (segment reporting) is effective for fiscal years beginning after December 15, 2023, on a retrospective basis; ASU 2023-09 (income tax disclosures) is effective for public business entities for annual periods beginning after December 15, 2024, on a prospective basis (retrospective permitted). Source: FASB ASUs 2023-07 and 2023-09, December 2023.
• The FASB technical agenda, as revised June 25, 2026, lists 18 active standard-setting projects plus EITF, research, and post-implementation review items. Source: FASB Technical Agenda Overview, storage.fasb.org.

Key findings

• 12 numbered ASUs were issued in 2025, ending with ASU 2025-12, Codification Improvements, in December 2025. Source: FASB ASU list; ASU 2025-12 PDF, storage.fasb.org.
• One number was skipped in the 2025 sequence (no ASU 2025-02 appears in the issuer record), so the count of distinct standards issued in 2025 is 11 even though numbering reached 12. Source: KPMG FRV 2025 ASU table; FASB ASU PDFs.
• 4 numbered ASUs were issued in 2024 (2024-01 profits interests, 2024-02 codification improvements, 2024-03 expense disaggregation, 2024-04 induced conversions). Source: FASB ASU list; KPMG FRV 2024.
• 9 was the highest ASU number reached in 2023 (ending with ASU 2023-09, income tax disclosures, December 14, 2023). Source: FASB ASU 2023-09 PDF, storage.fasb.org.
• 6 was the highest ASU number reached in 2022 (ending with ASU 2022-06, reference rate reform sunset deferral, December 2022). Source: FASB ASU 2022-06 PDF, fasb.org.
• 10 was the highest ASU number reached in 2021 (ending with ASU 2021-10, government assistance disclosures, November 17, 2021). Source: FASB ASU 2021-10 PDF; FASB In the News.
• 11 was the highest ASU number reached in 2020 (ending with ASU 2020-11, insurance effective date deferral, November 5, 2020). Source: FASB ASU 2020-11 PDF, storage.fasb.org.
• ASU 2023-08 requires entities to measure in-scope crypto assets at fair value under ASC 820 with remeasurement gains and losses in net income, effective for fiscal years beginning after December 15, 2024. Source: FASB ASU 2023-08, December 13, 2023.
• ASC 606 offered two transition methods at adoption: full retrospective and modified retrospective (cumulative-effect at the date of initial application). Source: FASB ASU 2014-09, May 2014.
• ASC 842 required a modified retrospective transition, with an option to apply at the beginning of the earliest period presented or at the adoption date with a cumulative-effect adjustment. Source: FASB ASU 2016-02, February 2016.
• The SEC issued Staff Accounting Bulletin No. 119 on November 19, 2019, updating staff interpretive guidance to align with the CECL model in ASC 326. Source: U.S. SEC, SAB No. 119.
• ASU 2023-07 requires public entities to disclose significant segment expenses and apply the change retrospectively to all prior periods presented unless impracticable. Source: FASB ASU 2023-07, December 2023.
• ASU 2023-09 requires disaggregated rate-reconciliation and income-taxes-paid disclosures and is applied prospectively, with retrospective application and early adoption permitted. Source: FASB ASU 2023-09, December 14, 2023.
• The FASB technical agenda as revised June 25, 2026, lists 18 active recognition, measurement, presentation, and disclosure projects. Source: FASB Technical Agenda Overview, storage.fasb.org.
• Crypto-related work remains active: “Accounting for Transfers of Crypto Assets” and “Cash Equivalents – Disclosure Enhancement and Classification of Certain Digital Assets” are both on the June 25, 2026 agenda. Source: FASB Technical Agenda Overview, storage.fasb.org.

Section 1: ASUs issued per year, 2020 to 2025

The FASB assigns each ASU a number in the form YYYY-NN, incrementing NN within the calendar year. The last (highest) number issued in a year therefore indicates how many ASUs that year produced, subject to occasional skipped numbers. The figures below are taken from the highest verified ASU number in each year and cross-checked against the issuer PDFs hosted at storage.fasb.org and the KPMG Financial Reporting View reference tables, which reproduce the FASB list.

What the numbers mean. Annual ASU output across this window ran from 4 (2024) to 12 numbered (2025). A single year’s count mixes substantive standards (for example, segment reporting, crypto assets) with maintenance items such as codification improvements and effective-date or reference-rate technical fixes, so a high count does not by itself imply a heavy implementation burden. Most of the implementation effort in any given year is driven by a small number of major standards.

Limitations. The authoritative FASB ASU list page (fasb.org/standards/accounting-standard-updates) is JavaScript-rendered and did not return a machine-readable full list to the research tools used here, so annual totals are derived from the highest sequential number and verified against issuer PDFs rather than read directly off a single FASB table. Skipped numbers (for example, 2025-02, and gaps observed in 2023 such as 2023-03, 2023-04, and 2023-07 being absent from one disclosure-focused reference table) mean the highest number is an upper bound on distinct standards. Where a gap was confirmed it is flagged.

Section 2: The current FASB technical agenda

The following is the FASB technical agenda as published in the FASB Technical Agenda Overview, revised June 25, 2026 (storage.fasb.org). The agenda is organized into active standard-setting projects (with a next milestone and expected date), research projects, EITF (Emerging Issues Task Force) items, and post-implementation review.

Active standard-setting projects (18)

Source: FASB Technical Agenda Overview, revised June 25, 2026, storage.fasb.org.

Research projects

Accounting for and Disclosure of Intangibles; Accounting for Derivatives; Agenda Consultation; Consolidation for Business Entities; Current Trends and Emerging Issues; Hedge Accounting; Statement of Cash Flows. Source: FASB Technical Agenda Overview, June 25, 2026.

EITF and post-implementation review

EITF: Application of the Topic 815 Normal Purchases and Normal Sales Scope Exception to Electricity Contracts; Consideration Payable to a Customer. Post-Implementation Review: Credit Losses (ASC 326). Source: FASB Technical Agenda Overview, June 25, 2026.

What the agenda signals. Digital assets remain an active workstream beyond the 2023 crypto standard, with two distinct projects (transfers of crypto assets; classification of certain digital assets). Hedging and derivatives appear repeatedly across active, research, and EITF items. The presence of a formal post-implementation review of Credit Losses (CECL) indicates the FASB is still assessing how ASC 326 has performed in practice.

Section 3: Major recent standards – effective dates and transition

The six standards below are the ones with the broadest implementation impact in the current cycle. Effective dates differ by entity type; transition method is the basis on which an entity moves from the old guidance to the new.

3.1 Revenue: ASC 606 (ASU 2014-09)

ASU 2014-09, Revenue from Contracts with Customers (Topic 606), was issued May 2014. Public entities applied it for annual reporting periods beginning after December 15, 2017 (calendar-year public entities: January 1, 2018). Nonpublic entities applied it for annual reporting periods beginning after December 15, 2018. Two transition methods were available: full retrospective (with optional practical expedients) and modified retrospective (cumulative-effect adjustment at the date of initial application, with current-period disclosures of the effect). Source: FASB ASU 2014-09, May 2014, storage.fasb.org.

3.2 Leases: ASC 842 (ASU 2016-02)

ASU 2016-02, Leases (Topic 842), was issued February 2016. Public business entities applied it for fiscal years beginning after December 15, 2018 (calendar-year public entities adopted January 1, 2019). Private companies applied it for fiscal years beginning after December 15, 2021 (the date was deferred from an earlier schedule). A modified retrospective approach is required: entities elect either to apply it as of the earliest comparative period presented or as of the adoption date with a cumulative-effect adjustment to opening retained earnings, with several optional practical expedients. Source: FASB ASU 2016-02, February 2016, storage.fasb.org.

3.3 Credit losses (CECL): ASC 326 (ASU 2016-13)

ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), introduced the current expected credit loss (CECL) model, replacing the incurred-loss model. SEC filers that are not smaller reporting companies applied it for fiscal years beginning after December 15, 2019 (calendar-year: January 1, 2020). Smaller reporting companies, private companies, and not-for-profits applied it for fiscal years beginning after December 15, 2022 (calendar-year: January 1, 2023), after the FASB deferred the date for these entities. Transition is generally on a modified retrospective basis with a cumulative-effect adjustment to retained earnings. Source: FASB ASU 2016-13; Federal Reserve, CECL FAQ; SEC SAB No. 119 (Nov 19, 2019).

3.4 Crypto assets: Subtopic 350-60 (ASU 2023-08)

ASU 2023-08, Intangibles – Goodwill and Other – Crypto Assets (Subtopic 350-60), was issued December 13, 2023. It requires entities to measure in-scope crypto assets at fair value under ASC 820, with remeasurement gains and losses recognized in net income, plus separate balance-sheet presentation and new disclosures. It is effective for all entities for fiscal years beginning after December 15, 2024, including interim periods, with early adoption permitted. Transition is on a modified retrospective basis, with a cumulative-effect adjustment to the opening balance of retained earnings as of the beginning of the adoption year. Source: FASB ASU 2023-08, December 13, 2023; FASB In the News release.

3.5 Segment reporting: ASC 280 (ASU 2023-07)

ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, was issued November 2023. It is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. It applies retrospectively to all prior periods presented unless impracticable. The standard requires disclosure of significant segment expenses regularly provided to the chief operating decision maker. Source: FASB ASU 2023-07, November 2023.

3.6 Income tax disclosures: ASC 740 (ASU 2023-09)

ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, was issued December 14, 2023. It is effective for public business entities for annual periods beginning after December 15, 2024, and for all other entities for annual periods beginning after December 15, 2025, with early adoption permitted. It is applied prospectively, with retrospective application permitted. The standard requires a disaggregated effective-tax-rate reconciliation and disaggregated income taxes paid. Source: FASB ASU 2023-09, December 14, 2023.

Summary table: major standards

Section 4: Original synthesis (derived insights)

These derived insights are computed by the author from the verified primary data above. Inputs and limitations are stated for each.

Insight 1: ASUs issued per year, 2020 to 2025 (annual output trend)

Logic: take the highest verified ASU number issued in each calendar year as the annual count (FASB numbers ASUs sequentially within the year). Inputs: FASB ASU PDFs for the final ASU of each year (2020-11, 2021-10, 2022-06, 2023-09, 2024-04, 2025-12).

Reading: annual ASU output is not monotonic. The window low was 2024 (4 numbered ASUs); the window high was 2025 (12 numbered, 11 distinct after the skipped 2025-02). The six-year simple average is about 8.7 numbered ASUs per year. Limitation: highest-number counts include skipped numbers in some years and mix substantive standards with maintenance items, so this measures gross numbering output, not implementation burden. Counts before final verification of every intra-year number should be treated as upper bounds.

Insight 2: Timeline of major standards by effective date (public-entity first-effective year)

Logic: order the six major standards by the first fiscal year in which they took effect for the earliest-affected entity class, to show the implementation wave.

Reading: the 2017 to 2019 wave (revenue, leases, CECL) was recognition-and-measurement heavy and reshaped the financial statements themselves. The 2023 to 2024 wave (segment, income tax) is disclosure-led, with crypto assets the main recognition-and-measurement change of the recent cycle. Limitation: each standard has staggered later dates for smaller or private entities; this table uses the earliest-effective class only.

Insight 3: Transition-method mix among the six major standards

Logic: classify each major standard by its required or dominant transition method.

Reading: modified retrospective is the most common transition basis among recent major standards (3 of 6), reflecting a FASB preference for cumulative-effect adoption that limits the cost of restating comparative periods. The two newest disclosure standards split between retrospective (segment) and prospective (income tax). Limitation: this classifies the headline transition method only; most standards also offer optional practical expedients that affect comparability.

Section 5: Adoption and implementation findings

Adoption findings below are labeled by source tier. Quantitative adoption-rate studies from regulators were not fully verifiable to a single primary figure in this research pass, so this section reports verifiable structural and regulatory facts and flags the gap.

• The SEC formalized its CECL adoption expectations in Staff Accounting Bulletin No. 119 (November 19, 2019), addressing model development, governance, documentation, validation, and internal controls for registrants adopting ASC 326. This is a Tier-1 regulatory adoption signal. Source: U.S. SEC, SAB No. 119.
• The FASB has an active post-implementation review of Credit Losses (ASC 326) on its June 25, 2026 technical agenda, indicating ongoing assessment of how CECL has functioned after adoption. Source: FASB Technical Agenda Overview, June 25, 2026.
• For ASU 2023-09 (income tax disclosures), Big Four implementation guidance (Tier-2, labeled) was published through 2025 addressing first-year adoption considerations for calendar-year public business entities whose first effective annual period began January 1, 2025. Source (Tier-2): Deloitte DART, “Income Tax Disclosure Considerations Related to the Adoption of ASU 2023-09,” May 20, 2025.

Data gap (flagged): no FASB- or SEC-published quantitative adoption rate (for example, percentage of filers adopting on the effective date versus early) was verifiable to a primary source in this pass. Secondary firm surveys exist but were not confirmed against a primary dataset and are therefore excluded.

Charts to create

1. ASUs issued per year, 2020 to 2025 (column chart). Data: the annual counts in Insight 1. Source: FASB ASU PDFs. Insight: shows the 2024 trough and 2025 peak. Citation-worthy because it visualizes FASB output volatility from primary numbering.
2. Major standards timeline by first-effective year (horizontal timeline). Data: Insight 2 table. Source: FASB ASUs. Insight: separates the 2017 to 2019 recognition wave from the 2023 to 2024 disclosure wave. Citation-worthy as a one-glance adoption roadmap.
3. Transition-method mix (donut). Data: Insight 3. Source: FASB ASUs. Insight: modified retrospective dominates. Citation-worthy for preparers planning transition.
4. Technical agenda by milestone stage (stacked bar: Exposure Draft vs Board deliberations vs Final ASU). Data: Section 2 table. Source: FASB Technical Agenda Overview, June 25, 2026. Insight: shows how much of the pipeline is near exposure versus early-stage.

Methodology

Source selection. Tier-1 primary sources were prioritized: FASB-hosted ASU PDFs (storage.fasb.org), the FASB Technical Agenda Overview PDF (revised June 25, 2026), FASB In the News releases, the U.S. SEC (SAB No. 119), and the Federal Reserve CECL FAQ. Tier-2 sources (Big Four and KPMG Financial Reporting View reference tables) were used only to corroborate ASU numbers and titles and to source adoption-implementation commentary, and are labeled as such.

Inclusion and exclusion. Only figures traceable to a working primary source with a date were included. Adoption-rate percentages that could not be tied to a primary dataset were excluded. The FASB ASU list page is JavaScript-rendered and did not return a full machine-readable table to the tools used; annual counts were therefore derived from the highest verified ASU number per year and cross-checked against issuer PDFs and the KPMG reference tables.

Handling conflicts. The ASU 2023-08 issuance date appears in secondary sources as both December 13 and December 14, 2023; the FASB standard and FASB press materials support December 13, 2023, which is used here. The ASU 2023-09 issuance date is December 14, 2023, per the FASB. Where the KPMG reference tables omitted ASUs (they exclude ASUs effective uniformly for all entities), those tables were used only for the deferred-date subset and not as a complete annual count.

Derived figures. The three insights in Section 4 are computed by the author from the primary data and are labeled as derived, with inputs and limitations stated.

Limitations. Annual ASU counts are upper bounds because of occasional skipped numbers (for example, no ASU 2025-02). Effective dates summarized here use the earliest-affected entity class; staggered later dates apply to smaller and private entities. No verifiable primary adoption-rate statistic was available.

Date of last update: 2026-06-29.

Source quality ranking

Tier 1 (primary): FASB Accounting Standards Updates (PDFs on storage.fasb.org for 2014-09, 2016-02, 2016-13, 2020-11, 2021-10, 2022-06, 2023-07, 2023-08, 2023-09, 2024-02, 2024-03, 2025-06, 2025-12); FASB Technical Agenda Overview (revised June 25, 2026); FASB ASU list (fasb.org/standards/accounting-standard-updates); FASB In the News releases; U.S. SEC Staff Accounting Bulletin No. 119; Federal Reserve CECL FAQ.

Tier 2 (credible professional reference): KPMG Financial Reporting View ASU reference tables (used for ASU numbers/titles and the deferred-date subset); Deloitte DART, Grant Thornton, RSM, PwC Viewpoint implementation guidance (used for corroboration and labeled adoption commentary).

Excluded: secondary blog posts and firm survey statistics that could not be tied to a primary dataset; the un-rendered full ASU table (counts derived instead and flagged); any “total ASUs ever issued” figure (no verifiable primary source found).

Citation format (per major statistic)

• Source: Financial Accounting Standards Board, Accounting Standards Update No. 2023-08, Intangibles – Goodwill and Other – Crypto Assets (Subtopic 350-60), issued December 13, 2023.
• Source: Financial Accounting Standards Board, Accounting Standards Update No. 2016-02, Leases (Topic 842), February 2016.
• Source: Financial Accounting Standards Board, FASB Technical Agenda Overview, revised June 25, 2026.
• Source: U.S. Securities and Exchange Commission, Staff Accounting Bulletin No. 119, November 19, 2019.
• Source: Financial Accounting Standards Board, Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, December 14, 2023.

Journalist-friendly additions

Most quotable statistics

• The FASB issued 12 numbered ASUs in 2025, ending with ASU 2025-12 in December 2025; it issued only 4 in 2024. (FASB ASU list)
• Crypto assets in scope of ASC 350-60 must be carried at fair value with gains and losses in net income, effective for fiscal years beginning after December 15, 2024. (FASB ASU 2023-08)
• The FASB technical agenda lists 18 active standard-setting projects as of June 25, 2026. (FASB Technical Agenda Overview)
• Three of the six major recent standards use a modified retrospective transition. (Author analysis of FASB ASUs)

Data limitations

Annual ASU counts are upper bounds (skipped numbers occur, e.g., no 2025-02). Effective dates cited are for the earliest-affected entity class; smaller and private entities often have later dates. No verifiable primary adoption-rate percentage was available.

Downloadable dataset – recommended fields

asu_number; title; topic_or_subtopic; issue_date; public_effective_date; private_or_other_effective_date; transition_method; early_adoption_permitted; agenda_status; source_url; source_tier; date_verified.

150-word press summary

The FASB Standards Report 2026 compiles verified FASB standard-setting output and the effective dates and transition methods for the major recent U.S. GAAP standards. The FASB issued 12 numbered Accounting Standards Updates in 2025, the high of the 2020 to 2025 window, against just 4 in 2024. Its technical agenda, revised June 25, 2026, lists 18 active projects, including two on digital assets and a post-implementation review of the CECL credit-loss model. Among the six major standards, revenue (ASC 606), leases (ASC 842), and CECL (ASC 326) drove a 2017 to 2019 recognition-and-measurement wave, while segment reporting (ASU 2023-07), crypto-asset fair value (ASU 2023-08), and income tax disclosures (ASU 2023-09) form a 2023 to 2024 disclosure-led wave. Modified retrospective is the most common transition method. All figures are sourced to FASB, SEC, and Federal Reserve primary materials with dates.

Suggested headlines

1. FASB Issued 12 Standards Updates in 2025, Triple Its 2024 Output
2. The 18 Projects on the FASB’s 2026 Technical Agenda
3. Crypto Goes to Fair Value: What ASU 2023-08 Changes and When
4. From Revenue to Crypto: A Timeline of FASB’s Major Standards by Effective Date
5. Modified Retrospective Dominates: How Recent FASB Standards Transition

FAQs

1. How many ASUs did the FASB issue in 2025? Twelve numbered ASUs, ending with ASU 2025-12 (December 2025); one number (2025-02) was skipped, so 11 distinct standards. (FASB ASU list)
2. How many ASUs did the FASB issue in 2024? Four (2024-01 through 2024-04). (FASB ASU list; KPMG FRV)
3. When did ASC 606 (revenue) take effect? Public entities: fiscal years beginning after December 15, 2017; nonpublic: after December 15, 2018. (FASB ASU 2014-09)
4. When did ASC 842 (leases) take effect? Public business entities: fiscal years beginning after December 15, 2018; private companies: after December 15, 2021. (FASB ASU 2016-02)
5. When did ASC 326 (CECL) take effect? SEC filers other than smaller reporting companies: fiscal years beginning after December 15, 2019; smaller reporting companies, private, and not-for-profit: after December 15, 2022. (FASB ASU 2016-13)
6. When is the crypto-asset standard effective? Fiscal years beginning after December 15, 2024, for all entities, modified retrospective. (FASB ASU 2023-08)
7. What does ASU 2023-07 require and when? Disclosure of significant segment expenses; effective for fiscal years beginning after December 15, 2023, retrospective. (FASB ASU 2023-07)
8. When is ASU 2023-09 (income tax disclosures) effective? Public business entities: annual periods beginning after December 15, 2024; other entities: after December 15, 2025; prospective. (FASB ASU 2023-09)
9. How many projects are on the FASB technical agenda now? Eighteen active standard-setting projects as of June 25, 2026, plus research, EITF, and post-implementation review items. (FASB Technical Agenda Overview)
10. Which transition method is most common among recent major standards? Modified retrospective, used by leases, CECL, and crypto assets. (Author analysis of FASB ASUs)

Sources

1. Financial Accounting Standards Board, Accounting Standards Updates Issued. https://www.fasb.org/standards/accounting-standard-updates
2. Financial Accounting Standards Board, FASB Technical Agenda Overview (revised June 25, 2026). https://storage.fasb.org/FASB%20Technical%20Agenda%20Overview.pdf
3. Financial Accounting Standards Board, ASU 2014-09, Revenue from Contracts with Customers (Topic 606). https://storage.fasb.org/ASU%202014-09_Section%20A.pdf
4. Financial Accounting Standards Board, ASU 2016-02, Leases (Topic 842). https://storage.fasb.org/ASU%202016-02_Section%20A.pdf
5. Financial Accounting Standards Board, ASU 2023-08, Crypto Assets (Subtopic 350-60). https://www.fasb.org/page/Document?pdf=ASU+2023-08.pdf
6. Financial Accounting Standards Board, ASU 2023-09, Income Taxes (Topic 740). https://storage.fasb.org/ASU%202023-09.pdf
7. Financial Accounting Standards Board, ASU 2020-11, Financial Services – Insurance (Topic 944). https://storage.fasb.org/ASU%202020-11.pdf
8. Financial Accounting Standards Board, ASU 2021-10, Government Assistance (Topic 832). https://www.fasb.org/page/document?pdf=ASU_2021-10.pdf
9. Financial Accounting Standards Board, ASU 2022-06, Reference Rate Reform (Topic 848). https://www.fasb.org/page/document?pdf=ASU+2022-06.pdf
10. Financial Accounting Standards Board, ASU 2025-12, Codification Improvements. https://storage.fasb.org/ASU%202025-12.pdf
11. Financial Accounting Standards Board, ASU 2025-06, Internal-Use Software (Subtopic 350-40). https://www.fasb.org/Page/Document?pdf=ASU+2025-06.pdf
12. U.S. Securities and Exchange Commission, Staff Accounting Bulletin No. 119. https://www.sec.gov/oca/staff-accounting-bulletin-119
13. Board of Governors of the Federal Reserve System, FAQs on the New Accounting Standard on Financial Instruments – Credit Losses. https://www.federalreserve.gov/supervisionreg/topics/faq-new-accounting-standards-on-financial-instruments-credit-losses.htm
14. KPMG Financial Reporting View, ASUs issued in 2024 (Tier-2 corroboration). https://kpmg.com/us/en/frv/reference-library/asu/asu-2024.html
15. KPMG Financial Reporting View, ASUs issued in 2025 (Tier-2 corroboration). https://kpmg.com/us/en/frv/reference-library/asu/asu-2025.html
16. Deloitte DART, Income Tax Disclosure Considerations Related to the Adoption of ASU 2023-09 (May 20, 2025) (Tier-2 adoption commentary). https://dart.deloitte.com/USDART/home/publications/deloitte/heads-up/2025/income-tax-disclosure-considerations-related-adoption-asu-2023-09

Related research

More original, sourced datasets from The Ledgerism Brief:

• CPA Industry Report + Shortage Index — Workforce, salary, firms, and the CPA shortage.
• The State of Accounting 2026 — The U.S. accounting profession by the numbers.
• The Big Four Report — Revenue, headcount, and audit market share.
• AI in Accounting Report — Adoption rates and the Automation Index.
• Accounting Salary Database — Pay by state, metro, role, and experience.
• SEC Restatement Report — Restatements by year, type, and cause.