On June 1, 2020, the FASB held a virtual meeting with the Accounting Standards Board
of Japan (ASBJ). The meeting is the 27th in a series of biannual meetings the two
standard setters hold to further their “cooperative efforts to develop high-quality
global accounting standards.”
The two boards informed each other about the effects of the COVID-19 pandemic on
their respective accounting standards and exchanged views on technical topics in
which they both have an interest, including (1) accounting for goodwill and
intangibles and (2) financial performance reporting and disclosures.
The next meeting between the FASB and ASBJ is expected to be held in the second half
of 2020. For more information about the latest meeting, see the press release on the FASB’s Web site.