FASAC Holds March 2023 Meeting

At its March 7, 2023, meeting, the FASB’s Financial Accounting Standards Advisory Council (FASAC) discussed its projects on emerging accounting issues and changes in business practices related to (1) the statement of cash flows, (2) financial key performance indicators, (3) inflation and various foreign currency exchange rates, (4) supply chain financing arrangements, and (5) accounting for research and development costs and advertising costs. In addition, the FASAC discussed the Board’s research project on the definition of a derivative and the role of the FASB’s Emerging Issues Task Force.

The next FASAC meeting is scheduled for June 6, 2023.