With offices in 157 countries and more than 223,000 people, PWC is among the leading professional services networks in the world. PWC helps organisations and individuals create the value they’re looking for, by delivering quality in assurance, tax and advisory services. PWC regulary releases researches and insights into global business issues.
At a glance
As part of the Segment project, the FASB is seeking feedback from public companies to help the Board better
understand the issues prepares may face in applying potential improvements to existing segment disclosure
On June 25, the FASB invited public companies to participate in a
​ that focuses on potential improvements to
the current segment disclosure requirements of ASC 280. Participating companies will be asked to provide
feedback on the following concepts:
● Requiring additional disclosures by reportable segment, as well as general disclosures about the basis of
segmentation and the composition of reportable segments
Improving the connectivity of the segment information to the financial statements by enhancing the
requirements to reconcile segment disclosures to the financial statements.
This is the second outreach related to the segment project. In a 2018 study, the FASB focused on segment
identification and the aggregation of operating segments into reportable segments. Based in part on the challenges
identified by participants in that study, the Board decided not to revisit segment identification. They were also
hesitant to propose a fundamental change to the accounting standard. Concern about the costs versus benefits of
addressing the aggregation criteria and the need for more input inspired the current disclosure study.
Why is this important?
The study is designed to gather feedback from public companies in order to inform the Board’s consideration of
improvements to segment disclosures and improve the quality and usefulness of information provided to investors.
The Board is seeking stakeholder input as it deliberates potential changes to the segment disclosure requirements.
Stakeholders are encouraged to participate in the study and share their perspectives on the current requirements
and proposed changes. Individual feedback will be kept confidential. The study is expected to last for three or four