FASB Staff Proposes Taxonomy Improvements Related to Proposed ASU on Consideration Payable to a Customer

The FASB staff has released proposed GAAP taxonomy improvements related to its recently issued proposed Accounting Standards Update (ASU) Revenue From Contracts With Customers (Topic 606): Consideration Payable to a Customer. The enhancements will go into effect provided that the proposed ASU is finalized.

Comments on the proposed taxonomy improvements are due by November 23, 2026. For more information, see the release notes on the FASB’s Web site.