FASB and ASBJ Hold Biannual Meeting

On August 29–30, 2019, the FASB met with the Accounting Standards Board of Japan (ASBJ) in Norwalk, Connecticut. The meeting is the 26th in a series of biannual meetings the two standard setters hold to further their “cooperative efforts to develop high-quality global accounting standards.”

In addition to giving updates on their respective standard-setting activities at the meeting, the two boards exchanged views on technical topics in which they both have an interest, including accounting for goodwill and intangibles, reference rate reform, accounting for leases, and financial performance reporting and disclosures.

The next meeting between the FASB and ASBJ is expected to be held in the first quarter of 2020 in Tokyo, Japan. For more information about the latest meeting, see the press release on the FASB’s Web site.