FASB Issues Proposed ASU to Align Certain SEC Disclosure Requirements With Codification Guidance

The FASB has issued a proposed ASU, Disclosure Framework — Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative.

The purpose of the proposed amendments is to “clarify or improve disclosure and presentation requirements of a variety of Codification Topics” by aligning “the requirements in the Codification with SEC’s regulations.”

Comments on the proposed ASU are due by June 28, 2019. For more information, see the proposed ASU on the FASB’s Web site.