FASB changes effective for calendar year 2023

At this time of year, many practitioners are planning their 2023 preparation, compilation, review, audit, and other attest engagements. This report includes a listing of the significant Accounting Standards Updates (ASUs) that now are effective for the first time for nonpublic business entities (entities other than a public business entity (PBE), a not-for-profit (NFP) entity that has issued or is a conduit bond obligor for securities that are traded, listed, or quoted on an exchange or an over-the-counter market, or