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    FASB Publishes 2021 Agenda Consultation Report

    June 29, 2022

    The Financial Accounting Standards Board (FASB) issued the 2021 agenda consultation report. The report summarizes the robust stakeholder feedback obtained during the 2021 agenda consultation project and how that feedback has influenced the Board’s technical and research agenda and standard-setting process as of June 29, 2022.

    During the agenda consultation process, FASB asked stakeholders to share their views on where they think the Board should focus its resources to best fulfill its mission to establish and improve financial accounting and reporting standards to provide useful financial information to investors and other allocators of capital. The overall input received during the consultation process has resulted in redefining the scope and direction of existing technical agenda projects and adding new projects to technical and research agenda. The Board added the following projects to its technical agenda based on feedback from investors and a broad range of stakeholders:

    • Accounting for and disclosure of digital assets
    • Accounting for environmental credit programs
    • Accounting for and disclosure of software costs

    Feedback from investors and a broad range of stakeholders also resulted in new research projects aimed at gathering more information for potential technical agenda projects in the following areas:

    • Accounting for exchange-traded commodities
    • Accounting for financial instruments with environmental, social, and governance (ESG)-linked features
    • Hedge Accounting Phase 2—this research project was expanded to consider changes to the definition of a derivative

    In addition, significant feedback was received on the existing research project on accounting for, and disclosure of, intangibles that has helped shape the future direction of the project. FASB will continue to consider agenda requests as part of its regular standard-setting process.


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    Keywords: Americas, US, Banking, Accounting, Disclosures, Digital Assets, Credit Risk, ESG, Hedge Accounting, Derivatives, Environmental Credit Programs, FASB

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