Don’t let Annual Reporting steal all the spotlight! Interim Reporting matters too!
The FASB has proposed updates to Interim Reporting (Topic 270) to improve clarity and ensure users understand when and how the guidance applies. While these changes do not fundamentally alter interim reporting requirements, they enhance navigability, disclosure clarity, and consistency across entities.
All entities providing interim financial statements under GAAP, including SEC registrants and non-registrants should check to see what impacts the new guidance could have on your process.
FASB wants your feedback! Submit comments by March 31, 2025
Surprised by any changes or required disclosures? Drop your thoughts in the comments!
SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members.
With extensive experience in auditing and technology, Peter serves as an Audit Training Facilitator at Galasso Learning Solutions. His expertise in auditing healthcare companies, employee benefit plans, and private companies with complex transactions has made him a key contributor to the development of technical accounting training programs.
Before joining GLS, Peter worked at a Big 4, specializing in auditing healthcare companies in both public and private sectors. He later transitioned to an Internal Audit role at a Fortune 500 company before returning to public accounting at a national firm, where he focused on audits involving business combinations, asset acquisitions, GAAP to IFRS conversions, and technology implementations.
Proposed Accounting Standards Update – Interim Reporting (Topic 270)
Comments and Feedback are due by March 31, 2025.