KPMG professionals discuss the recently proposed segment reporting standards update from the FASB. The changes would enhance disclosures in annual and interim reporting, and require public companies to disclose significant segment expenses.
Public entities (as defined by ASC 280) and other entities that report segment information under ASC 280.
- FASB issued proposed ASU: October 6, 2022
- Comments due: December 20, 2022
The proposed ASU would enhance segment reporting under ASC 280 by expanding the breadth and frequency of segment disclosures.
- 00:50 - History of segment reporting
- 03:40 - Significant expenses
- 04:35 - 'Easily computable' expenses
- 05:45 - Interpreting the term 'significant'
- 06:20 - Other general categories
- 09:35 - Proposed transition