FASB ISSUES Accounting Standards Update 2025-02 LIABILITIES (Topic 405) Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 122 - March 2025

Summary

This Accounting Standards Update amends the GAAP Taxonomy (Codification of Standards) in accordance with SEC Staff Accounting Bulletin No. 122. The Section of the Codification that is amended is paragraph 405-10-S99-1 which relates to the topic Accounting for Obligations to Safeguard Crypto-Assets and Entity Holds for Its Platform Users. The entire paragraph is removed.

The ASU, including replacement information, is available at www.fasb.org