FASB’s Disaggregation of Income Statement Expenses

Financial Accounting Standards Board (FASB), in its continuous attempt to improve the disclosures about a public business entity’s expense and to address requests from users of financial statements for more detailed information about the types of expenses, has recently issued the Accounting Standard Update 2024-03 (ASU) on “Disaggregation of Income Statement Expenses.”

It provides an overview of the requirements, implementation matters, and critical considerations of FASB’s amendments to Topic 220, Income Statement—Reporting Comprehensive Income through ASU.

We hope you find the attached document informative. We will be happy to participate in any discussions required to clarify our views. We look forward to hearing from you.