Last updated on March 23, 2022. Please refer to the Current Technical Plan for information about the expected release dates of exposure documents and final standards.
(Sections updated on the date above are indicated with an asterisk *)
Objective:The objective of the Disaggregation—Income Statement Expenses (formerly known as the Financial Performance Reporting—Disaggregation of Performance Information) project is to improve the decision usefulness of business entities’ income statements through the disaggregation of certain expense captions.
Background:In February 2022, the Board decided that it would revise the scope and objective of the project to focus on improving the decision usefulness of business entities’ income statements through the disaggregation of (a) selling, general, and administrative expenses, (b) cost of services and other cost of revenues, and (c) cost of tangible goods sold.
Exposure Draft:There are no exposure documents at this time.
Decisions Reached at Last Meeting (February 16, 2022)
The Board discussed the feedback received on its June 2021, Invitation to Comment, Agenda Consultation, and deliberated the next steps for the project.
The Board decided to:
- Revise the project objective, stating that the objective is to improve the decision usefulness of business entities’ income statements through the disaggregation of certain expense captions.
- Establish a project scope that includes the following expense captions: (a) selling, general, and administrative expenses, (b) cost of services and other cost of revenues, and (c) cost of tangible goods sold.
Tentative Board Decisions Reached Before the Scope and Objective Revision (as of December 11, 2019)
A summary of the Board’s tentative decisions reached to date can be found here.
The following are links to the minutes for each meeting. To view Board meetings and handouts from the past 90 days, click here.
|February 16, 2022||Board Meeting—The Board revised the scope and objective of the project.|
See below for decisions made before the revision of the scope and objective of the project.
|December 11, 2019||Board Meeting—Discussed feedback received from stakeholder outreach on the internal view approach to disaggregation and the path forward for the project.|
|April 24, 2019||Board Meeting—Discussed an internal view approach to disaggregating expense information and related alternatives.|
|December 19, 2018||Board Meeting—Discussed the feedback received during outreach with entities on their system capabilities to disaggregate income statement line items.|
|March 28, 2018||Board Meeting—Discussed the staff’s suggested terminology to describe the lines from the income statement to be the focus of the disaggregation.|
|December 13, 2017||Board Meeting—Discussed the project plan and research relating to the presentation and disaggregation of functional and natural information in the performance statements of private companies.|
|September 20, 2017||Board Meeting—Added a project on the disaggregation of performance information to the technical agenda. The Board decided to retain the issue of structuring the performance statement by developing an operating performance measure on the research agenda.|
FASB Practice Fellow
Supervising Project Manager
Postgraduate Technical Assistant
Postgraduate Technical Assistant
The staff has prepared this summary for information purposes only. Any Board decisions are tentative and do not change current accounting. Official positions of the FASB are determined only after extensive due process and deliberations.