The Financial Accounting Standards Board (FASB) has published for comment GAAP Taxonomy Improvements to represent the following the Accounting Standard Updates:
- Investments—Equity Method and Joint Ventures (Topic 323): Equity Method of Accounting—Targeted Improvements (Release Notes) which seeks to improve the operability of accounting for equity method investments in Topic 323, Investments—Equity Method and Joint Ventures, which was developed in response to key challenges identified in connections with the 2025 FASB Invitation to Comment, Agenda Consultation. The comment period closes January 11, 2027.
- Revenue from Contracts with Customers (Topic 606): Consideration Payable to a Customer (Release Notes) which would clarify that payments made on behalf of a customer, or to a customer of an entity’s customer, should be accounted for as consideration payable to a customer under Topic 606, Revenue from Contracts with Customers. The comment period closes November 23, 2026.
Comments can be submitted to xbrled@fasb.org. Please include the File Reference Number indicated on the cover of the Release Notes.
