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Disclosure framework: Disclosure review — Inventory

The objective of this project is to improve the effectiveness of disclosures for inventory.


Meeting minutes

  • June 21, 2017 — The Board discussed comments received on the proposed ASU.
  • November 16, 2016 — The Board discussed issues relating to the development of an Exposure Draft addressing disclosures related to inventory.
  • September 19, 2016 — The Board discussed the development of an Exposure Draft addressing disclosures related to inventory.
  • August 24, 2016 — The Board discussed results from recent outreach and research.
  • July 27, 2016 — The Board discussed the outcome of outreach and research on potential changes to inventory disclosure requirements.
  • January 7, 2015 — The Board discussed issues related to disclosure requirements for income taxes, interim reporting, and inventory.
  • April 4, 2014 — The Board discussed (1) results from the field study that was conducted to better understand the use of discretion in notes to financial statements and (2) next steps based on the field study findings.


Current status

On June 21, 2017, the FASB directed its staff to conduct additional outreach and research on the proposed disclosure requirements for changes to the inventory balance.


Project milestones

Date Developments Comments
March 4, 2014 Exposure Draft, Conceptual Framework for Financial Reporting: Chapter 8: Notes to Financial Statements, is issued by the FASB. Comment deadline July 14, 2014.
January 10, 2017 Proposed ASU, Disclosure Framework — Changes to the Disclosure Requirements for Inventory. The FASB will host a public roundtable meeting on March 17, 2017, at the FASB’s offices in Norwalk, Connecticut, to discuss this proposal. Roundtable participants must submit a comment letter on the proposed ASU to the FASB by February 27, 2017, to be able to register. All other comments are due by March 13, 2017.


Correction list for hyphenation

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