Accounting Board Clarifies Corporate Expense Reporting Deadlines

Publicly traded companies now have more clarity from the US accounting standard-setter on when they need to surface new information about major costs affecting their corporate income.

The Financial Accounting Standards Board issued an update Monday to its November final rule changes requiring companies to detail amounts spent on expenses such as staff salaries and benefits. The update clarifies the initial effective date for public businesses that don’t have an annual reporting period ending on Dec. 31.

• All public business entities should initially adopt the disclosure requirements in the first annual reporting period beginning after Dec. 15, 2026, and interim ...