FASAC Holds Quarterly Meeting

The FASB’s Financial Accounting Standards Advisory Council (FASAC) held its quarterly meeting on September 21, 2023. Topics discussed at the meeting included (1) the FASB’s proposed Accounting Standards Update on disclosures about disaggregation of income statement expenses; (2) the FASB’s standard-setting process, including how the Board conducts cost-benefit analyses of amendments it makes to its accounting standards; and (3) an update on the Board’s recent decisions in its project on improvements to income tax disclosures.

The next FASAC meeting (virtual only) is scheduled for December 12, 2023. For more information, see the meeting recap on the FASB’s Web site.