FASB lays out technical agenda

FASB recently voted to work on developing accounting rules to address areas of distinguishing liabilities and equity, financial performance reporting, and segment reporting, and it issued several other proposals.

After considering feedback on a yearlong agenda consultation project, FASB added three items to its technical agenda.

One project will focus on distinguishing liabilities and equity with regard to indexation and settlement, convertible debt, disclosures, and earnings per share. The board also added a new component to its financial performance reporting research project that will focus on the disaggregation of performance reporting by function and nature. Finally, a new narrow-scoped project is intended to improve the aggregation criteria and segment disclosures for segment reporting.

FASB also voted to remove several projects from its research agenda.

Separately, FASB recently issued the following proposals:

• Consolidation (Topic 812): Reorganization, a Proposed Accounting Standards Update (ASU), would reorganize and clarify the consolidation guidance in FASB ASC Topic 810.
• An exposure draft for an ASU that includes nine potential amendments meant to clarify, correct, or make minor improvements pertaining to a variety of topics in the FASB Accounting Standards Codification.
• An ED for an ASU that is meant to provide technical corrections and clarifications for separate standards issued in 2016 on accounting for financial instruments and lease accounting.