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

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Equipping enterprises with comprehensive disclosure reporting to bolster compliance

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.

The ASU revisions aim to improve the accounting treatment of in-scope crypto assets to measure and report these assets at fair value in each reporting period. 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. He explained, “In assessing the true value of a crypto asset, the crucial consideration lies in the rights it provides – whether to goods, services, or other assets. The essence is not merely possessing something but ensuring enforceable rights. The real significance lies in the latter part of this definition, underscoring the necessity for accounting when a crypto asset grants rights to tangible or intangible assets. Recognizing and accounting for these rights is pivotal for a comprehensive understanding of the asset’s worth.”

Incorporating the FASB reporting feature into TaxBit’s industry-leading accounting suite will allow enterprises to remain compliant, in addition to a seamless user experience. As former FASB and TaxBit’s Head of Accounting Solutions, Aaron Jacob, explains, “In embracing the latest FASB guidance, TaxBit is providing enterprises with a robust framework that ensures both compliance and transparency in the ever-evolving landscape of digital assets. This underscores our unwavering dedication to delivering innovative solutions that proactively meet the changing requirements of our clients.”

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. These include significant holdings, roll forward reporting by asset, and extensive gain/loss reporting details and summaries.

Flexible Cost Basis Methodologies: Allows users to run disclosure reports across all cost basis methodologies, including retroactive cost basis methodology – a unique feature favored by high-volume trading customers.

End-to-End Accounting Support: Users can soon export or directly post FASB fair value adjustments into their ERPs, ensuring compliance with upcoming standards for a streamlined and efficient accounting process.

Scalable Reporting: Fully compatible with enterprise-grade infrastructure, providing complex accounting support for transactions scale. Whether you have hundreds of transactions or hundreds of millions of transactions, TaxBit has you covered.

For more information about TaxBit’s Accounting Suite please visit www.taxbit.com.

About TaxBit

Designed by CPAs and tax attorneys, TaxBit is the digital economy’s leading tax and accounting compliance solution. Our end-to-end platform, tailored for enterprises, financial institutions, and government bodies, streamlines compliance while ensuring accuracy. TaxBit is SOC 1 Type 1, SOC 2 Type 2 attestation and ISO 27001 certified. TaxBit has secured over $235 million from leading global investors, including Tiger Global, Haun Ventures, and PayPal Ventures. TaxBit is headquartered in Draper, Utah, with offices in Salt Lake City, San Francisco, Seattle, New York, and Washington, D.C. For more information, please visit www.taxbit.com.

For media inquiries, please contact:
Michelle O’Connor
VP of Global Communications and Marketing
michelle@taxbit.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/taxbit-elevates-crypto-asset-accounting-compliance-with-enterprise-reporting-aligned-to-latest-fasb-guidance-302075968.html

SOURCE TaxBit

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Dana-Farber Cancer Institute Partners with Clinical.ly to Enhance Regulatory Operations with eReg Solutions

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NEW YORK, Sept. 19, 2024 /PRNewswire/ — The Dana-Farber Cancer Institute, a world leader in cancer treatment and research, chose Clinical.ly’s (www.clinical.ly) Research Suite™ to streamline regulatory operations, marking a significant step toward more efficient and compliant clinical trial management. Dana-Farber joins a growing number of research organizations that leverage Clinical.ly’s innovative solutions to streamline clinical trial processes. Clinical.ly’s eReg platform offers a comprehensive, paperless solution that centralizes regulatory workflows, ensuring compliance and transparency across clinical trials.

“We are thrilled to support Dana-Farber’s clinical research operations,” said Henry Kravchenko, Clinical.ly’s CEO.

This partnership continues Clinical.ly’s success in providing best-in-class enterprise tools for conducting clinical research. “We are thrilled to support Dana-Farber’s clinical research operations,” said Henry Kravchenko, Clinical.ly’s CEO. “Our eReg platform and wider set of features in Clinical.ly Research Suite™ will empower that renowned organization, and we all look forward to supporting their teams.”

About Clinical.ly Research Suite™ 

Clinical.ly Research Suite™ is a comprehensive solution that eliminates traditional, paper-based processes. By automating and centralizing essential workflows in the Clinical.ly Research Suite™, organizations achieve huge efficiency improvements, greater trial oversight, document management, and regulatory compliance. The Clinical.ly Research Suite™ includes:

eReg: A best-in-class electronic regulatory bindereSource: An intuitive & feature-rich, paperless data capture solution that streamlines data collection from trial participantseConsent: A fully digital solution for capturing informed consent, improving participant engagement and site complianceClinicallySign: 21 CFR Part 11 compliant eSignature functionalityClinicallyPay: A secure and instantaneous participant stipend payment and reimbursement solution

About Dana-Farber Cancer Institute

Founded in 1947, Dana-Farber Cancer Institute is committed to providing adults and children with the best treatment available today while developing tomorrow’s cures through cutting-edge research. Based in Boston, Dana-Farber is a teaching affiliate of Harvard Medical School and ranks consistently as one of the top cancer hospitals in the world.

About Clinical.ly

Clinical.ly provides differentiated, cloud-native technology solutions to the clinical research industry, enabling research organizations to conduct studies with greater efficiency and ease. Clinical.ly is dedicated to developing technology that eliminates tedious manual labor, allowing clinical research professionals to focus on patient care.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dana-farber-cancer-institute-partners-with-clinically-to-enhance-regulatory-operations-with-ereg-solutions-302253690.html

SOURCE Clinical.ly

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Fall Into Creativity with the Monport Laser Fall Sale

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NEW YORK, Sept. 19, 2024 /PRNewswire/ — Experience laser innovation this Fall with Monport Laser, an industry frontrunner in laser engraving and cutting technology, with an exclusive Fall Sale offering incredible discounts and free accessories on a wide range of high-performance laser engraving machines. From September 19th to September 30th, customers can take advantage of this limited-time opportunity to elevate their laser engraving businesses with cutting-edge laser innovation at unbeatable prices.

Monport Laser has been dedicated to providing innovative and reliable laser machines that empower businesses and individuals to achieve their goals. With a focus on quality, precision, and customer satisfaction, Monport Laser has established itself as a trusted leader in the industry. Their commitment to excellence is evident in every laser they produce, ensuring exceptional performance, reliability, and value.

Embrace the Power of CO2 Laser Technology with Exclusive Offers

Monport Laser will offer two free accessories with selected CO2 laser machines during the Monport Fall sale. These versatile lasers are ideal for various applications, including engraving, cutting, and marking wood, acrylic, leather, and more. By taking advantage of this Fall sale, laser engraving businesses can enhance their productivity and expand their creative possibilities.

Experience Unmatched Value with Fiber Laser Discounts

Monport Laser offers substantial discounts of up to $4200 and 3 free accessories on selected models for those seeking the precision and speed of fiber laser technology. Fiber lasers are renowned for their ability to process metals with exceptional efficiency and accuracy, making them indispensable for metal fabrication, manufacturing, and jewelry production. Additionally, customers purchasing fiber lasers during the Fall sale will receive three free accessories, further sweetening the deal.

Elevate Your Desktop Laser Experience with a Free Water Chiller

Monport Laser is committed to providing comprehensive solutions for businesses of all sizes. As part of the Fall sale, customers who purchase the 40W Desktop laser will receive a Free Water Chiller Cw3000. This essential accessory ensures optimal cooling and performance, prolonging the lifespan of the laser and guaranteeing consistent results.

Discover Additional Savings on a Wide Range of Accessories

Monport Laser offers an additional 20% discount on selected accessories to complete your laser setup. From lenses and nozzles to rotary tables and smoke extraction systems, customers can find everything they need to maximize the potential of their laser machines.

Unleash Your Creativity and Productivity

Monport Laser’s Fall sale is the perfect opportunity to invest in laser technology that empowers your business or fuels your creative passions. With exceptional discounts and free accessories, you can acquire the ideal laser solution to meet your needs and budget.

Whether you’re an entrepreneur, artist, or manufacturer, Monport Laser’s advanced laser machines offer unparalleled precision, versatility, and reliability. Take advantage of this limited-time Fall sale and unlock your projects’ full potential for laser innovation.

About Monport Laser

Monport Laser is a global leader in designing, manufacturing, and distributing high-quality laser machines and accessories. With a commitment to innovation and customer satisfaction, Monport Laser provides cutting-edge solutions for various industries, including manufacturing, engraving, marking, and more.

For more information, visit monportlaser.com and follow them on social media for the latest updates.

Website: https://www.monportlaser.com/

 

 

 

View original content:https://www.prnewswire.com/news-releases/fall-into-creativity-with-the-monport-laser-fall-sale-302253699.html

SOURCE Monport Laser

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MEDIA ADVISORY – Minister Wilkinson to Make a Critical Minerals Infrastructure Announcement

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VANCOUVER, BC, Sept. 19, 2024 /CNW/ – The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and Ranj Pillai, the Premier of Yukon, will make a funding announcement in support of critical minerals infrastructure projects. A media availability will follow.

Date: September 20, 2024

Time: 10:30 a.m. PT

All accredited media are asked to pre-register by emailing media@nrcan-rncan.gc.ca. A dial-in line is available for media and will be provided upon registration.

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SOURCE Natural Resources Canada

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