FASB Holds June 18 Meeting

June 20, 2025

At its June 18, 2025, meeting, the FASB discussed its project on narrow-scope improvements to the interim reporting guidance in ASC 270 — specifically, the feedback received on its proposed ASU on this topic. The Board affirmed its decisions related to the following topics:

The applicability of ASC 270.
The form and content of interim financial statements.
The interim disclosures that would be required by U.S. GAAP.
The inclusion of a disclosure principle in the proposal.

The Board also indicated that it believes the benefits of the amendments will outweigh the costs and has directed the staff to release a final ASU for a vote by written ballot.

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