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FASB & ASBJ met in Norway

On 24 and 25 July 2017, the FASB and the Accounting Standards Board of Japan (ASBJ) met in Norwalk. The meeting was the 22nd in a series of biannual meetings between the two standard-setters.

In addition to giving updates on their respective standard-setting activities at the meeting, the two boards exchanged views on technical topics in which they both have an interest, including the conceptual framework, performance reporting and disclosures, revenue recognition, the equity method of accounting, and reate-regulated activities.

The next meeting between the FASB and ASBJ is expected to be held in January 2018 in Tokyo.

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