FASB Makes Decisions on Agenda Invitation to Comment
Adds projects to address areas of liabilities and equity, financial performance reporting, and segment reporting
Norwalk, CT, September 20, 2017—At a public meeting
held earlier today, the Financial Accounting Standards Board (FASB)
voted to add three new projects to its technical agenda. The decisions
represent the final stage of the FASB's year-long agenda consultation
project, which included extensive stakeholder outreach and input on its
August 2016 Invitation to Comment.
During today's meeting, the FASB voted to add the following projects to its technical agenda:
- A project on distinguishing liabilities and equity that would
improve understandability and reduce complexity—without sacrificing the
relevance of information provided to financial statement users—with a
focus on indexation and settlement (within the context of the derivative
scope exception), convertible debt, disclosures, and earnings per share
- One component of the FASB's Financial Performance Reporting
Research project focused on the disaggregation of performance reporting
by function and nature
- A narrow-scoped project on segment reporting intended to improve the aggregation criteria and segment disclosures.
The FASB also voted to remove from its research agenda the following projects:
- Accounting for Financial Instruments: Interest Rate Risk Disclosures
- Pensions and Other Postretirement Employee Benefit Plans
- A holistic project on accounting for intangibles assets
- The segment disclosure component of Phase 2 of the Financial Statements of Not-for-Profit Entities project.
More information about the projects is available in the Board handout, as well as the forthcoming summary of tentative Board decisions to be posted on the FASB website in the coming days.