On March 29–30, 2021, the FASB held a virtual meeting with the
Accounting Standards Board of Japan (ASBJ). The meeting is the 29th 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 discussed their responses to the COVID-19 pandemic’s effects and
exchanged views on technical topics in which they both have an interest, including
accounting for goodwill, accounting for leases, and rate-regulated activities.
The next meeting between the FASB and ASBJ is expected to be held in the second half
of 2021. For more information about the latest meeting, see the press release on the FASB’s Web site.