FASB adds performance reporting to its agenda
Nov 01, 2001
The US Financial Accounting Standards Board has added to its agenda a project on Reporting Information about the Financial Performance of Business Enterprises.
Performance Reporting is one of IASB's nine initial agenda projects. FASB is also studying another possible agenda project, Disclosure of Information about Intangible Assets Not Recognized in Financial Statements. Intangible Assets is one of IASB's 16 second-priority agenda topics. FASB has previously agreed to take the lead in a 'partnerhsip' project with IASB on two major components of the second phase of IASB's Business Combinations project – purchase acquisition accounting procedures and new-basis accounting.