FASB Holds January 28 Meeting

At its January 28, 2026, meeting, the FASB discussed feedback on its standard-setting activities related to various accounting and financial reporting topics addressed in its January 2025 invitation to comment Agenda Consultation, including consolidation for business entities, the definition of common control, asset retirement obligations, and environmental obligations. The Board decided to add to its technical agenda a project on defining the term “common control.” However, the Board decided not to add projects on the interaction between the variable interest entity (VIE) guidance in ASC 810 and the sale-and-leaseback accounting guidance, the interaction between the consolidation guidance in ASC 810 and the guidance on derecognition of nonfinancial assets in ASC 610-20, asset retirement obligations, or environmental obligations. In addition, the Board directed the staff to conduct research related to how the FASB’s VIE and voting interest entity models might be “harmonized.”

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