FASAC Holds December 12 Meeting

At its December 12, 2023, meeting, the Financial Accounting Standards Advisory Council (FASAC) discussed the following topics:

• Post-implementation reviews of the FASB’s revenue standard (ASC 606), including feedback received at the Board’s November 2023 roundtable.
• The FASB’s project on the accounting for environmental credit programs. Specific topics addressed included (1) the project’s scope and (2) asset recognition and measurement.

For more information, see the meeting recap on the FASB’s Web site.