SEC2313. FASB Update: 2023 and Beyond
During 2023, the FASB celebrated its 50th anniversary while focused on bringing priority projects identified as part of our recent agenda consultation process to successful completion. The Board has or soon plans to issue final standards on the accounting for and disclosure of crypto assets, income tax disclosures, and segment reporting. The Board made substantial progress on projects on the disaggregation of income statement expenses, with a public roundtable planned for this month, and projects to improve the accounting for environmental credit programs and software costs, among others. The Board also continues its ongoing post-implementation review (PIR) of the credit losses, leases, and revenue recognition standards. During this panel, FASB Chair Rich Jones, Technical Director Hillary Salo, and Deputy Technical Director Nellie Debbeler will provide an overview of these and other projects and why your feedback continues to be critical to inform the Board’s work.
By the end of this session, participants will obtain an understanding of:
- Recent/upcoming final guidance
- Progress on other priority topics identified by stakeholders
- Progress on PIR and other standard-setting activities relevant to investors, preparers and auditors.
Learning Objectives:
- Identify recent/upcoming final guidance issued by FASB
- Recognize FASB's progress on other priority topics identified by stakeholders
- Indicate progress on PIR and other standard-setting activities relevant to investors, preparers and auditors
