FASB

Wah Fu Education Group Ltd. Announces Unaudited Financial Results for the First Half of Fiscal Year 2024

Retrieved on: 
Monday, April 1, 2024
Disclosure, Bank statement, Total, Tax, Marketing, FASB, Information technology, Investment, Depreciation, Cryptocurrency

Incomes from operations were $0.27 million and $1.12 million for the each of six months ended September 30, 2023 and 2022.

Key Points: 
  • Incomes from operations were $0.27 million and $1.12 million for the each of six months ended September 30, 2023 and 2022.
  • Unaudited Financial Results for the six months ended September 30, 2023
    For the six months ended September 30, 2023, revenue decreased by $1.81 million, or 33.1%, to $3.65 million from $5.45 million for the same period of the prior fiscal year.
  • For the six months ended September 30, 2023, revenue from providing online education services decreased by $1.83 million for the same period of the prior fiscal year.
  • Management has evaluated subsequent events through April 1, 2024, the date which the financial statements were available to be issued.

TaxBit Expands Digital Asset Accounting Services, Adding IFRS and Multi-Functional Currency Support for International Customers

Retrieved on: 
Thursday, March 21, 2024
Cost basis, Growth, International, International Financial Reporting Standards, FASB, Bank statement, Investment, Book, Cryptocurrency

NEW YORK, March 21, 2024 /PRNewswire/ -- TaxBit, the leading provider of compliance solutions for digital assets, today announced that the TaxBit Accounting Suite now supports International Financial Reporting Standards (IFRS) and multi-functional currencies, bringing the solution to a globally recognized standard for accounting compliance.

Key Points: 
  • NEW YORK, March 21, 2024 /PRNewswire/ -- TaxBit , the leading provider of compliance solutions for digital assets, today announced that the TaxBit Accounting Suite now supports International Financial Reporting Standards (IFRS) and multi-functional currencies, bringing the solution to a globally recognized standard for accounting compliance.
  • IFRS , set by the International Accounting Standards Board, is a set of accounting standards that dictate reporting practices for financial statements.
  • TaxBit's Accounting Suite also complies with the Financial Accounting Standard Board's December 2023 Accounting Standards Update , which provides clarity and guidance on the accounting for and disclosing digital assets.
  • Enhanced Compliance: With support for both IFRS and FASB standards, TaxBit ensures that users' reporting remains aligned with regulatory compliance standards.

Cipher Mining Provides Fourth Quarter and Full Year 2023 Business Update

Retrieved on: 
Tuesday, March 5, 2024
Black Pearl, FASB, GAAP, JV, PIN, Telephone

NEW YORK, March 05, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) ("Cipher" or the "Company") today announced results for its fourth quarter and full year ended December 31, 2023, with an update on its operations and deployment strategy.

Key Points: 
  • "We are delighted to announce our fourth quarter 2023 results, which reflect our first full quarter in which all four of our data centers were operating at full capacity.
  • We delivered a quarter with strong positive net income on both a GAAP and Non-GAAP basis.
  • And while recent FASB accounting changes have been a tailwind for all the miners’ earnings, Cipher was net positive for the quarter even without those accounting changes,” said Tyler Page, CEO of Cipher.
  • To access this conference call by telephone, register here to receive dial-in numbers and a unique PIN to join the call.

Marathon Digital Holdings Reports Fourth Quarter and Fiscal Year 2023 Results

Retrieved on: 
Wednesday, February 28, 2024
Crypto, Risk, Annual report, Mining, Bank statement, Sale, Marathon Digital, Disclosure, Webcast, Cryptocurrency, FASB, Depreciation

Fort Lauderdale, FL, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), a leader in supporting and securing the Bitcoin ecosystem, reported its financial and operational results for the fourth quarter and fiscal year ended December 31, 2023.

Key Points: 
  • The Company sold 74% of the total bitcoin it produced in 2023 to fund operating costs.
  • Fiscal year 2022 results were also impacted by an $85.0 million loss on digital assets held within the investment fund, partially offset by an $83.9 million gain on sale of equipment, both of which were absent in fiscal year 2023.
  • Gains on digital assets were $331.5 million in 2023, compared to a loss on digital assets of $14.5 million in 2022.
  • Marathon Digital Holdings will hold a webcast and conference call today, February 28, at 5:00 p.m. Eastern time to discuss its financial results for the quarter ended December 31, 2023.

Riot Platforms Reports Full Year 2023 Financial Results, Current Operational and Financial Highlights

Retrieved on: 
Thursday, February 22, 2024
Mining, ERCOT, Growth, Miner, Adjustment, ASU, CASTLE, Information technology, Employment, Electricity, Hand, FASB, Bank statement, Insurance, Depreciation, Partnership, Cryptocurrency

CASTLE ROCK, Colo., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot” or “the Company”), an industry leader in vertically integrated Bitcoin (“BTC”) mining, reports financial results for the full year ended December 31, 2023.

Key Points: 
  • CASTLE ROCK, Colo., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot” or “the Company”), an industry leader in vertically integrated Bitcoin (“BTC”) mining, reports financial results for the full year ended December 31, 2023.
  • “I am pleased to announce results for Riot for 2023, which proved to be another milestone year in Riot’s ongoing development as a leading vertically integrated Bitcoin miner,” said Jason Les, CEO of Riot.
  • Earned $71.2 million in power credits through support of the ERCOT grid in Texas during several weather-related supply/demand issues in 2023.
  • Engineering revenue in excess of engineering cost of revenue for the year ended December 31, 2023 was $3.7 million.

Spire Global Announces Strong Fourth Quarter and Full Year 2023 Results; Achieves Positive Cash Flow from Operations

Retrieved on: 
Wednesday, March 6, 2024
Technology, Nanotechnology, Aerospace, Manufacturing, Finance, Banking, Maritime, Professional Services, Air, Transport, Data Analytics, Data Management, Logistics, Supply Chain Management, Satellite, ExactEarth, Acquisition, Accounting, Forecasting, Annual report, Marketing, File, Table, Loss, Nature, Life, Adjustment, GAAP, Webcast, Tax, Public expenditure, Security (finance), FASB, Risk, Bank statement, Depreciation, Insurance

Spire adjusts the following items from one or more of its non-GAAP financial measures:

Key Points: 
  • Spire adjusts the following items from one or more of its non-GAAP financial measures:
    Loss on satellite deorbit, launch failure and decommissioning.
  • Spire excludes these items as they do not reflect the underlying cash flows or operational results of the business.
  • Spire excludes stock-based compensation expenses primarily because they are non-cash expenses that it excludes from its internal management reporting processes.
  • Spire defines free cash flow as net cash provided by/used in operating activities less purchases of property and equipment.

TaxBit Elevates Crypto Asset Accounting Compliance with Enterprise Reporting Aligned to Latest FASB Guidance

Retrieved on: 
Thursday, February 29, 2024
Crypto, Finance, FASB, Disclosure, ERPs, ASU, Cost basis, Cryptocurrency

NEW YORK, Feb. 29, 2024 /PRNewswire/ -- TaxBit, an industry-leading accounting and tax solution for the digital economy, has introduced a FASB Reporting feature into its Accounting Suite. This reporting module supports the latest Accounting Standard Update (ASU) 2023-08 that was issued by the Financial Accounting Standards Board (FASB) and is immediately available for early adoption.

Key Points: 
  • This reporting module supports the latest Accounting Standard Update (ASU) 2023-08 that was issued by the Financial Accounting Standards Board (FASB) and is immediately available for early adoption.
  • TaxBit's FASB Reporting feature is specifically designed to simplify and automate the new required disclosure reporting associated with this recently issued guidance.
  • At TaxBit's Future of Crypto Accounting Roundtable event featuring FASB Supervising Project Manager, Nick Cappiello underscored the vital role of accounting in evaluating the true value of crypto assets.
  • Features of TaxBit's FASB Reporting Feature include:
    Support for the New Requirements Disclosure Reports: TaxBit has specifically built new out-of-the-box reports that are aligned with the FASB disclosure requirements.

Canaan Inc. Reports Unaudited Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Tuesday, February 27, 2024
ADS, Research, PIN, Mining, AI, Marketing, Bank, ATM, Growth, Sale, Disclosure, A14, A13, Policy, Electricity, Finance, Procurement, Renminbi, FASB, BNY Mellon, Bank statement, Depreciation, Cryptocurrency

Products revenue in the fourth quarter of 2023 was US$44.9 million, compared to US$29.9 million in the third quarter of 2023 and US$47.5 million in the same period of 2022.

Key Points: 
  • Products revenue in the fourth quarter of 2023 was US$44.9 million, compared to US$29.9 million in the third quarter of 2023 and US$47.5 million in the same period of 2022.
  • Cost of revenues in the fourth quarter of 2023 was US$103.1 million, compared to US$102.4 million in the third quarter of 2023 and US$122.5 million in the same period of 2022.
  • Products costs in the fourth quarter of 2023 were US$95.8 million, compared to US$83.7 million in the third quarter of 2023 and US$98.9 million in the same period of 2022.
  • Mining costs in the fourth quarter of 2023 were US$6.0 million, compared to US$17.9 million in the third quarter of 2023 and US$23.6 million in the same period of 2022.

Brighthouse Financial Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Monday, February 12, 2024
Finance, Banking, Professional Services, Asset Management, Insurance, Brighthouse Financial, Share repurchase, News, Table, RBC, GAAP, Fourth, FASB, Corporation

Brighthouse Financial, Inc. ("Brighthouse Financial" or the "company") (Nasdaq: BHF) announced today its financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • Brighthouse Financial, Inc. ("Brighthouse Financial" or the "company") (Nasdaq: BHF) announced today its financial results for the fourth quarter and full year ended December 31, 2023.
  • The company reported a net loss available to shareholders of $942 million in the fourth quarter of 2023, or $14.70 per diluted share, compared with net income available to shareholders of $110 million in the fourth quarter of 2022.
  • * Information regarding the non-GAAP and other financial measures included in this news release and a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP measures are provided in the Non-GAAP and Other Financial Disclosures discussion below, as well as in the tables that accompany this news release and/or the Fourth Quarter 2023 Brighthouse Financial, Inc. Financial Supplement and/or the Fourth Quarter and Full Year 2023 Brighthouse Financial, Inc. Earnings Call Presentation (which are available on the Brighthouse Financial Investor Relations webpage at http://investor.brighthousefinancial.com ).
  • Corporate expenses in the fourth quarter of 2023 were $244 million, compared with $243 million in the fourth quarter of 2022 and $210 million in the third quarter of 2023, all on a pre-tax basis.

LeaseQuery Rebrands to FinQuery, Reflecting Company’s Focus on Contract and Spend Intelligence

Retrieved on: 
Thursday, February 8, 2024
EY, Acquisition, Accounting, SIIA, Growth, Software, GASB, Software as a service, Organization, FASB, FASAB, CMO, Research, CFOS, Sales

FinQuery’s unified platform for contract and spend intelligence enables companies to manage, account, optimize, budget and forecast these major areas of spend all in one place, using the company’s proprietary AI-enabled technology.

Key Points: 
  • FinQuery’s unified platform for contract and spend intelligence enables companies to manage, account, optimize, budget and forecast these major areas of spend all in one place, using the company’s proprietary AI-enabled technology.
  • The company’s market research revealed over 80 percent of CFOs, controllers, and finance directors require additional non-lease contract storage.
  • Under its new name, FinQuery will now provide solutions for accounting, finance and IT teams through the FinQuery Platform for contract and spend intelligence, setting itself apart from the market.
  • FinQuery Contract Management: An AI-enabled, centralized contract management solution to enhance post-signature visibility for informed spending decisions.