Highlights of the FASB’s May 29 Meeting
May 30, 2019
At its May 29, 2019, meeting, the FASB discussed (1) segment reporting and (2) not-for-profit implementation.
Segment Reporting
The Board is developing topics for a study on segment disclosures and discussed the following options:
- Require that entities report segment information in a financial statement format — The Board decided to exclude this alternative because of the alternative’s complexity but directed its staff to research how to improve segment reconciliation requirements.
- Require additional general disclosures in ASC 280 — The Board directed its staff to study the effect of including additional general segment disclosure requirements.
For more information, see the meeting minutes on the FASB’s Web site.
Not-for-Profit Implementation
The Board discussed a draft of a staff Q&A related to ASU 2018-08, Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made, and directed its staff to post the final document to its Web site.
For more information, see the meeting minutes on the FASB’s Web site.