Income Statement Disaggregation: ASC 240-40 26-27
2.50 Credits
Member Price $99
Non-Member Price $129
Overview
The FASB has released Accounting Standards Update (ASU) 2024-03, Income Statement-Reporting Comprehensive Income “Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This Update entails much more detail than the current requirements for public business entities. This Update enhances the disclosures regarding a public business entity’s expenses and addresses investors’ requests for more detailed information about the types of expenses, including inventory purchases, employee compensation, depreciation, amortization, and depletion. These details are provided within commonly presented expense captions such as cost of sales, SG&A, and research and development.
Highlights
• Disclosure - Overview • Disclosure - Expense Disaggregation • Implementation Guidance
Prerequisites
None.
Designed For
CPAs, Financial professionals and professional staff dealing with this topic.
Objectives
• Determine the extent of expense disaggregation disclosures necessary. • Recognize the objective of expense disaggregation disclosures. • Identify through examples, the expense disaggregation disclosures required.
Preparation
Some knowledge of the topic.
Leader(s):
Leader Bios
Bobbe Barnes, AICPA
Bobbe Barnes is an educator and consultant with many years of professional experience in IFRS, US GAAP, and certification training around the world. She recently completed nine years overseas working in emerging economies, where she led the team that developed the Certified International Professional Accounting certificate program, comprising training courses and examinations. Bobbe has worked in many countries and regions including the USA, Africa, Central & Eastern Europe, Central Asia, Mongolia, Russia, Ukraine, Middle East, and Far East including China, Indonesia, Malaysia, Thailand, and South Korea. Bobbe is a Certified Public Accountant (CPA), a Certified Management Accountant (CMA), and a Certified Government Financial Manager (CGFM). In addition, she is active in the Institute of Management Accountants, having served on the Board of Directors and the standing Committee on Ethics.
Just recently she was a keynote speaker at the International Accounting and Auditing Conference in Tashkent, Uzbekistan, and a speaker at the fifth annual Middle East IFRS and Accounting Summit in Dubai, where she also conducted a full day workshop on Financial Instruments.
Non-Member Price $129
Member Price $99