FASAC Holds June 2023 Meeting

At its June 6, 2023, meeting, the FASB’s Financial Accounting Standards Advisory Council (FASAC) discussed its project on the accounting for and disclosure of software costs. Council members provided feedback on potential improvements, including “the development of a single model to account for costs to internally develop, modify, or acquire software.” In addition, the FASB staff provided an update on the Board’s segment reporting project.

The next FASAC meeting is scheduled for September 21, 2023.