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FASB seeks preparer input on segment reporting ideas

Tammy Whitehouse | August 7, 2018

To help figure out what to do to improve segment reporting, the Financial Accounting Standards Board is looking for public companies to participate in a study.

FASB is looking for companies to help identify what kinds of improvements are warranted to the guidance in GAAP on aggregating business segments and reporting their results in financial statements. The board says it is the first phase in reaching out to preparers to get their input on how the rules could be improved.

The board is specifically looking for companies that must comply with Accounting Standards Codification Topic 280 on segment reporting. Companies will be asked to provide information on how they use the criteria outlined in ASC 280 and how they would be affected by two potential approaches the staff has identified as possible alternatives to the existing rules.


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