FASB Discusses Agenda Consultation

At its February 16, 2022, meeting, the FASB discussed feedback it received on its invitation to comment Agenda Consultation and tentatively decided to revise the objective and scope of its project on disaggregation — income statement expenses (formerly its project on financial performance reporting — disaggregation of performance information). The Board directed its staff to begin research on the expense captions that the Board established in revising the project’s scope. In addition, the staff was instructed to start initial deliberations related to the revised project. On this note, the Board reminded meeting participants that tentative decisions related to the former project (i.e., the project with the previous scope and objective) are no longer applicable.