FASB Adds Financial Performance Reporting.

• Author: Heffes, Ellen M.
• Position: Domestic - Financial Accounting Standards Board - Brief Article

The FASB announced it has added a project on financial performance reporting to its agenda. The project's objective is to improve the quality of information displayed in annual and interim financial statements so that the public is better able to evaluate a company's performance. The FASB plans to coordinate its efforts with those of the International Accounting Standards Board (IASB), which recently adopted a similar project.

The project will determine the usefulness of adding certain aggregations, classifications, line items and subtotals covered in annual and interim financial statements. Also the board will...