FASB Issues ASU on Segment Disclosures

The FASB has issued Accounting Standards Update (ASU) No. 2023-07, Improvements to Reportable Segment Disclosures. The ASU is aimed at enhancing the disclosures public entities provide regarding significant segment expenses so that investors can “better understand an entity’s overall performance” and assess “potential future cash flows.” The ASU applies to all public entities that are required to report segment information in accordance with ASC 280.

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