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ARTICLE · 23 AUGUST 2022

Changes To ASC 280 (Segment Reporting) Appear Likely

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Segment reporting—a frequent topic of SEC comments and the subject of long-running debate at the Financial Accounting Standards Board (FASB)—continues to appear on the FASB's Technical Agenda...

United StatesAccounting and Audit
Alan Wilson
Alan Wilson
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Segment reporting—a frequent topic of SEC comments and the subject of long-running debate at the Financial Accounting Standards Board (FASB)—continues to appear on the FASB's Technical Agenda, with some likely changes on the near-term horizon. Proposed modifications to segment reporting have taken several forms over the past five years, including potential changes to the reportable segments process, adjustments to the reportable segment thresholds, and modifications to the aggregation criteria, among others, all with the goal of delivering more decision-useful information to investors about company performance.

At its July 27 meeting, the FASB directed its staff to draft a proposed Accounting Standards Update to amend the current segment reporting standard, which will include the following key elements applicable to public entities:

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