News Release 09/20/17

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.


About the Financial Accounting Standards Board

Established in 1973, the FASB is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit www.fasb.org.