Disaggregation of income statement expenses

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