FASB Releases FASAC Meeting Recap

The FASB has posted to its Web site the meeting recap for the December 2, 2025, meeting of the Board’s Financial Accounting Standards Advisory Council (FASAC). Topics discussed at the meeting included:

• Risk management and hedge accounting, including current application of hedge accounting to economic hedges, potential approaches in a long-term project on hedge accounting improvements, risk mitigation versus risk transformation, and improving disclosures.
• Implementation of recent FASB standards, including Accounting Standards Updates (ASUs) on disclosure of supplier finance obligations (ASU 2022-04), improvements to income tax disclosures (ASU 2023-09), improvements to reportable segment disclosures (ASU 2023-07), and accounting for and disclosure of crypto assets (ASU 2023-08).