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2023

FASB Issues Final Standard on Improvements to Reportable Segment Disclosures (November 30, 2023; Last Updated September 10, 2024)

Heads Up | Volume 30, Issue 22
November 30, 2023 (Last Updated September 10, 2024)
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FASB Issues Final Standard on Improvements to Reportable Segment Disclosures

This Heads Up has been updated to reflect recent discussions with the SEC staff (see Appendix B).

Footnotes

1
FASB Accounting Standards Update (ASU) No. 2023-07, Improvements to Reportable Segment Disclosures.
2
The ASC master glossary defines the term “public entity,” which includes broker-dealers and entities that only have debt securities trading in a public market.
3
For titles of FASB Accounting Standards Codification (ASC) references, see Deloitte’s “Titles of Topics and Subtopics in the FASB Accounting Standards Codification.”
4
Reproduced from the FASB and IASB Staff Paper, Agenda Reference AP34, “Segment Reporting: Improvements to Reportable Segment Disclosures.”
5
See Question 104.01 of the SEC’s Compliance and Disclosure Interpretations (C&DIs) on non-GAAP financial measures.
6
Question 104.04 of the SEC’s C&DIs on non-GAAP financial measures.
[7]
See the SEC Reporting Considerations section above for clarifications the SEC staff made at the AICPA Conference regarding entities with a single reportable segment.