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A look ahead from the FASB

Posted on January 15, 2016 by Dave Nitchman

Financial figures, pie chart, and red felt pen.  Shallow depth of field.

We like to keep you abreast of developments at the major accounting standards bodies. To that end, the Financial Accounting Standards Board (FASB), which sets accounting standards in the US and is responsible for the US GAAP Taxonomy, has released its outlook for 2016, including results of a stakeholder survey on its future agenda. One key area identified by all segments was improving the relevance of information included in Financial Performance Reporting. The need for reporting data that is useful not just to regulators but to investors and others is a trend we are seeing around the world and is one of many reasons we are working to make XBRL data easier to consume (see above). Learn more.

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