United States

KPMG Comments on FASB Priorities

Oct 31, 2016
From the Financial Reporting View

KPMG LLP recently commented on the FASB Invitation to Comment (ITC), Agenda Consultation, and encouraged the Board to continue to work on the projects currently on its agenda, particularly those related to the conceptual and disclosure frameworks (including financial statement boundaries). The firm also recommended that the Board limit the number of projects on its active agenda, and give the following priority to the four major topics identified in the ITC:

  1. Distinguishing liabilities from equity;
  2. Reporting performance and cash flows;
  3. Intangible assets; and
  4. Pensions and other postretirement benefit plans.

Read KPMG Comment Letter