Financial reporting

U.S. officials have asked for information related to the accounting of deals that the cybersecurity company has made with some customers.

The artificial intelligence company was facing legal scrutiny in the weeks before it went bust.

The changes deal with the intersection of the requirements of FASB's revenue recognition and stock compensation standards as they involve customers.

The Federal Accounting Standards Advisory Board wants input on accounting issues and questions related to reorganizations and abolishments amid DOGE cuts.

The findings come after a net loss of $31.7 million for the first quarter, which ended with cash, cash equivalents and short-term investments of $759 million.

Among companies that have disclosed financial projections, GM sees a $5 billion hit this year, while Apple expects $900 million in higher costs this quarter.

Judgments that are overly optimistic, unsupported, or poorly documented can tip into the territory of errors or fraud, leading to restatements and enforcement.

The Financial Accounting Standards Board issued a proposed accounting standards update on debt exchange transactions involving multiple creditors.

The Financial Accounting Standards Board published a rule in 2023 requiring companies that hold crypto to report their tokens at fair value.

Michael Saylor's Strategy and fellow corporate buyers of Bitcoin are being made to recognize the unrealized changes.