FASB Holds December 18 Meeting

At its December 18, 2024, meeting, the FASB discussed feedback received on its proposed Accounting Standards Update (ASU) on clarifying the effective date of its ASU on disclosures about disaggregation of income statement expenses. Specifically, the Board affirmed its decision related to clarifying the standard’s interim effective date for public business entities without an annual reporting period ending on December 31. The Board has directed the staff to draft a final ASU for a vote by written ballot.

For more information, see the tentative Board decisions on the FASB’s Web site.