MicroStrategy Issues a Response to FASB’s 2021 ‘Invitation to Comment’ By CoinQuora
- In June 2021, the FASB published an ‘Invitation to Comment’ in hopes to get feedback from its future standard-setting agenda.
- MicroStrategy is one of the people who responded.
- In response, MicroStrategy issued a 6-page letter telling the FASB to “take action on the accounting for digital assets.”
In June 2021, the FASB team published an ITC or ‘Invitation to Comment’ to its stakeholders. This was done by FASB to solicit feedback from partners on its standard-setting agenda. In response to this, MicroStrategy issued a 6-page letter telling FASB to “take action on the accounting for digital assets.”
According to FASB, ITC’s agenda consultation process intends to complement — not replace — the FASB’s formal agenda request process. The FASB will use the feedback to make decisions about any changes that may be made on its agenda. This is also essential to the FASB’s ability to continue to set standards.
The FASB invites all stakeholders to make additional agenda requests. Read the invitation
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