SBAC Holds May 2019 Meeting

At its May 2, 2019, meeting, the Small Business Advisory Committee (SBAC) discussed technology in financial reporting, certain identifiable intangible assets, goodwill, disclosure by business entities about government assistance, financial performance reporting, and the disclosure framework related to income taxes.

The SBAC also received updates on the FASB’s projects on distinguishing liabilities from equity, simplifying the balance sheet classification of debt, and improvements made to the FASB’s disclosure requirements in response to the SEC’s final rule related to disclosure update and simplification.

For more information, see the meeting recap on the FASB’s Web site.