FASB Discusses Segment Reporting

At its December 8, 2021, meeting, the FASB discussed its project on segment reporting and continued deliberating a principle-based disclosure requirement related to reporting “the significant segment expense categories and amounts that are . . . regularly provided to the chief operating decision maker [and] included in the reported measure of segment profit or loss.” The Board made tentative decisions about (1) multiple segment profit or loss measures and (2) transition.

The Board directed the staff to draft a proposed ASU for external review.