FASB Releases ASU on Disclosures About Disaggregation of Income Statement Expenses

The FASB has released Accounting Standards Update (ASU) No. 2024-03, Disaggregation of Income Statement Expenses. The ASU’s purpose is “to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions (such as cost of sales, SG&A, and research and development).”

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