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Updates from FASB

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Recently, FASB issued a proposed ASU, Income statement – Reporting comprehensive income – expense disaggregation disclosures (subtopic 220-40): Disaggregation of income statement expenses , to provide investors with more decision-useful information about a public business entity’s expenses.

The proposed ASU would require public companies to provide detailed disclosure of specified categories, underlying certain expense captions in the interim and annual periods, including employee compensation, depreciation, amortisation, and costs incurred related to inventory and manufacturing activities in the appropriate expense captions of the income statement.

The amendments in the proposed ASU do not change or remove the existing expense disclosure requirements and also do not change requirements w.r.t. presentation of expenses on the face of the income statement.

The proposed ASU is open for comments up to 30 October 2023.

To access the text of the proposed ASU, please click here

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