Segment reporting
The Board discussed feedback received on its segment aggregation study. It determined that the alternatives considered in the study for improving the aggregation criteria and reportable segments process do not provide cost-beneficial solutions. The Board directed its staff to conduct a second segment reporting study that will focus on “regularly reviewed” information.
For more information, see the meeting minutes on the FASB’s Web site.
Financial performance reporting — disaggregation of performance information
The Board discussed feedback received from companies on their system capabilities for disaggregating income statement line items. The Board directed its staff to consider various ways of disaggregating expense information on the basis of how management views such information internally.
The Board also discussed whether to combine its financial performance reporting project with its segment reporting project, but it decided to keep the projects separate.
For more information, see the meeting minutes on the FASB’s Web site.
Updating the definition of collections
The Board completed redeliberations of its June 2018 proposed Accounting Standards Update (ASU) Updating the Definition of Collections. It made decisions related to (1) direct care of collections, (2) disclosures, (3) transition, (4) effective date, and (5) analysis of cost and benefits. The Board directed its staff to draft a final ASU for vote by written ballot.
For more information, see the meeting minutes on the FASB’s Web site.
Financial instruments — credit losses implementation
The Board discussed its November 2018 proposed ASU Codification Improvements — Financial Instruments. The Board decided to extend the comment letter deadline by 30 days to January 18, 2019.
The Board also decided to (1) conduct further research and analysis on the presentation of total gross write-offs and total gross recoveries within the credit quality information vintage disclosure and (2) hold a related public roundtable in January 2019.
For more information, see the meeting minutes on the FASB’s Web site.