IASB and FASB joint education meeting, part I

Financial reporting issues relating to income statements, cash flow statements and intangibles

Following their meeting in London in June 2024 (covered in World Accounting Report, July 2024 and August/September 2024), the two boards recently met again at the FASB's offices in Norwalk, Connecticut. They previously focused on post-implementation reviews for revenue recognition and leases, but this time they covered a wider range of topics. The meeting provided a useful update on their activities and helpful insights into the way in which each board tackles current issues in financial reporting. Their discussions on income statements, cash flow statements and intangibles are covered below, and there is a separate article on climate-related matters.