Corporate Interim Disclosures Clarified by Accounting Board (1)

Companies gained more clarity Monday on which information they need to disclose in their interim financial reports.

The Financial Accounting Standards Board issued final guidance aimed at making it easier to navigate interim reporting disclosure rules. The update creates a list of disclosures that are required in interim financial statements and notes according to US rules.

“We expect that these clarifications will enhance consistency in interim reporting for all entities,” FASB Chair Richard Jones said in a statement.

The update’s changes were adopted by a vote of five FASB members. Two board members, Christine Botosan and Frederick Cannon, ...