FASB proposes improvements to segment disclosures
Defining Issues | October 2022
Proposals would require disclosure of significant segment expenses, and enhance disclosures in annual and interim reporting.
The proposed ASU addresses stakeholder requests for more decision-useful information about reportable segments 鈥� expanding the breadth and frequency of segment disclosures.
Applicability
- Public entities (as defined by ASC 280)聽and other entities that report segment information under聽ASC 280
Relevant dates
- October 6, 2022 鈥� FASB issued proposed ASU
- December 20, 2022 鈥� Comments due聽
Key Impacts:
The proposed amendments would require a public entity to:
- Disclose significant segment expenses regularly provided to the chief operating decision maker (CODM)
- Provide, in interim periods,聽all reportable segments profit or loss and asset disclosures currently required annually by ASC 280, as well as those introduced by the proposed ASU
- Provide all disclosures required by the proposed ASU and all existing segment disclosures in ASC 280 when the public entity has a single reportable segment
- Disclose the title and position of the CODM
- Disclose the amount and composition of other segment items by reportable segment
The proposed amendments would also allow a public entity to disclose more than one measure of segment profit or loss if the CODM regularly reviews聽multiple measures.
Report contents
- Fast facts, impacts and actions聽
- 叠补肠办驳谤辞耻苍诲听
- Proposed guidance聽
- Effective dates and transition
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乐鱼（Leyu）体育官网 comment letter
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Handbook: Segment reporting
Latest edition: Our comprehensive guide to ASC 280 鈥� with analysis, Q&As and examples.
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Segment reporting
We discuss the FASB's proposal to amend segment reporting disclosures.
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