On February 7–8, 2019, the FASB met with the Accounting Standards Board of Japan (ASBJ) in Tokyo, Japan. The meeting is the 25th in a series of biannual meetings the two standard setters hold to further their “cooperative efforts to develop high-quality global accounting standards.”
In addition to giving updates on their respective standard-setting activities at the meeting, the two boards exchanged views on technical topics in which they both have an interest, including business combinations, goodwill, performance reporting and disclosures, leases, and liabilities and equity.
The next meeting between the FASB and ASBJ is expected to be held in the second half of 2019 in Norwalk, Connecticut. For more information about the latest meeting, see the press release on the FASB’s Web site.