FASB disposal reporting: how to determine strategic shifts
Jay Harrison, Deloitte’s leader of advisory in audit, Hong Kong, explains how treasurers determine what a “strategic” business shift is under the new FASB rules.
The Financial Accounting Standard Board announced on April 10 new standards on publicly reporting any “strategic” changes specifically relating to discontinued or disposed-of operations. In the past, companies were required to report all changes of that nature. As CT reported last week, although this accounting switch should save on paperwork, deciphering what “strategic” means is a little more complex.
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