FASB Enhances Disclosure Requirements Related to Supplier Finance Programs

The FASB has issued Accounting Standards Update (ASU) No. 2022-04, Disclosure of Supplier Finance Program Obligations. Under the ASU, the buyer in a supplier finance program must disclose information about the key terms of the program, outstanding confirmed amounts as of the end of the period, a rollforward of such amounts during each annual period, and a description of where outstanding amounts are presented in the financial statements.

For more information, see the press release on the FASB’s Web site.