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Podcast overview
Members of the KPMG Department of Professional Practice discuss details from the latest FASB proposal that would require disaggregation of certain income statement expenses in the notes to the financial statements for public companies.
Applicability
- Public business entities
Relevant dates
- July 31, 2023 – FASB issued proposed ASU
- October 30, 2023 – Comments due
Podcast contents
- 0:20 – Introduction
- 1:00 – Background and how the project has evolved
- 3:20 – Income statement expenses subject to disaggregation
- 5:30 – Disaggregation of inventory and manufacturing expenses
- 6:45 – What is included in natural expense categories
- 7:55 – Qualitative disclosures
- 8:45 – Proposed effective date and transition
- 9:35 – Closing
Explore more
Resource
Handbook: Financial statement presentation
Latest edition: In-depth guide on presentation and disclosure requirements, plus considerations under SEC regulations.
Resource
FASB proposes income statement disaggregation disclosures
Public companies would disclose specific natural expense categories in certain income statement captions.
Meet our team
Valerie Boissou
Partner, Dept. of Professional Practice, KPMG US
Tim Phelps
Partner, Dept. of Professional Practice, KPMG US
John Barbagallo
Managing Director, Dept. of Professional Practice, KPMG US
Valerie Boissou
Partner, Dept. of Professional Practice, KPMG US
Tim Phelps
Partner, Dept. of Professional Practice, KPMG US
John Barbagallo
Managing Director, Dept. of Professional Practice, KPMG US
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