FASB opens second segment reporting study

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The Financial Accounting Standards Board said Tuesday it’s looking for public companies to take part in a study focusing on potential improvements to the segment disclosure requirements.

This is the second study conducted by FASB on segment reporting. This one will concentrate on the information disclosed by each reportable segment. The original study last year focused on improving the aggregation criteria and process for determining the reportable segments.

For this second study, FASB is looking for public companies that apply the disclosure requirements in FASB Accounting Standards Codification Topic 280, Segment Reporting. Participants will be asked to give information on the operability of various potential improvements to the segment disclosure requirements and to identify any potential unintended consequences.

FASB said the feedback it gets from the study will help inform it about the costs and benefits of the different ideas. A summary of the findings will be presented to FASB at a future public board meeting. The individual feedback will be kept confidential. The study period is expected to last three to four months.

Companies interested in participating can register at https://www.fasb.org/2019segmentstudy.

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Accounting standards Financial reporting FASB