Pre-meeting summaries for the September 2022 IASB-FASB joint education meeting

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26 Sep 2022

The FASB and the IASB will hold a one-day joint education meeting on 30 September 2022. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB and FASB discussions more closely. We summarised the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and FASB.

The following topics are on the agenda:

Goodwill and Impairment (IASB) and Identifiable Intangible Assets and Subsequent Accounting for Goodwill (FASB)

The IASB has, and the FASB had, on their respective agenda projects covering the accounting for goodwill and intangible assets acquired in a business combination. The purpose of this meeting is to provide an opportunity for FASB and IASB members to discuss the status of the respective projects; the subsequent accounting for goodwill (including the FASB’s progress with developing an amortisation-with-impairment model and recent decision to deprioritise and remove the project from its technical agenda, and the IASB’s research on this topic); and the redeliberations of the IASB in relation to disclosures about business combinations.

Disaggregation-related projects

Both the IASB and the FASB are currently undertaking, or will undertake, projects whose objectives include providing users of financial statements with more disaggregated information. The purpose of this meeting is to provide both boards with an opportunity to share comments and ask questions about these projects.

Digital Assets

The boards will discuss the results of the FASB’s research and outreach related to digital assets, which led the FASB to add a project to its technical agenda—Accounting for and Disclosure of Crypto Assets. The IASB will outline its work and its decision not to add a project on cryptocurrencies and related transactions to its work plan.

2021 Agenda Consultation (FASB) and Third Agenda Consultation (IASB)

Both the IASB and the FASB have recently finalised their agenda consultations. The purpose of this meeting is to provide both boards with an opportunity to share comments and ask questions about these consultations.

Our pre-meet­ing summaries is available on our IASB-FASB September education meeting notes page and will be sup­ple­mented with our popular meeting notes after the meeting.

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