Accounting

Simplification and 2016 Priorities with FASB Vice Chairman James Kroeker


by FEI Daily Staff

In 2014 the Financial Accounting Standards Board (FASB) launched an initiative that -- in its words -- was "aimed at reducing the costs and complexity associated with financial reporting."

Since that time the Board has initiated several projects, including simplifying the measurement of inventory and simplifying income statement presentation by eliminating extraordinary items.

In this podcast we talk with FASB Vice Chairman James Kroker about FAS's simplification plans, what worked and what hasn't and other financial reporting initiatives for 2016.