A long-running investor complaint that companies don’t reveal enough about their major expenses may see action by accounting rulemakers.
A unanimous Financial Accounting Standards Board on Wednesday kicked off an effort to make companies provide more details about what they spend on key items like labor, transportation, and other costs of producing goods and services. The idea is to expand the generic captions of selling, general and administrative (SG&A) expenses, cost of services, and other cost of revenues.
These details are especially important as inflation makes costs soar, FASB member Gary Buesser said.
“In conference calls over and over ...