In November 2023, FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which requires public companies to provide additional disclosures about their segments which were requested by investors as part of the FASB’s post-issuance review. The ASU does not change how segments are determined or any thresholds. It just provides more detailed disclosures for users. The ASU will be effective for fiscal years beginning after

December 15, 2023, and interim periods within fiscal years beginning after
December 15, 2024. Early adoption is permitted.

SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members.

With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.