Why is this important? What’s next?

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Segment pwc Segment disclosure Requiring study public companies reporting Segment improve

 
 
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 
requirements. 
 
What happened?  
On June 25, the FASB invited public companies to participate in a 
study
 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.  
What’s next?  
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 
months, with the results expected to be summarized by year end.  
 
 
 
 
National Professional Services Group |
 www.cfodirect.com 
In brief  | 
1 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
To have a deeper discussion, contact: 
Andreas Ohl 
Partner 
Email: 
andreas.ohl@pwc.com 
Hidar Akhras 
Director 
Email: 
hidar.akhras@pwc.com 
        
Matthew Sabatini 
Partner 
Email: 
matthew.e.sabatini@pwc.com 
 
 
 
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