The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) aimed at improving clarity and consistency in interim reporting disclosures. The proposed changes seek to streamline guidance, making financial reporting more accessible and structured for stakeholders.
Key aspects of the proposed update include:
Clearer interim reporting requirements
Enhanced disclosure structure for better usability
Opportunity for stakeholder feedback on proposed changes
FASB is encouraging input from the financial community, with the public comment period open until March 31, 2025. The proposed updates reflect an ongoing effort to refine reporting standards and ensure transparency in financial disclosures.
To find out more details please visit : https://fasb.org/