Highlights

The FASB issued one final accounting standard update in Q3 2026: ASU 2026-03, which requires that a contractual restriction on the sale of an equity security be considered in measuring the fair value of the equity security. The FASB also issued its sixth annual 2026 Investor Outreach Report, which highlights its investor outreach activities for the year ended June 30, 2026. Looking ahead, we can expect a final accounting standard update related to accounting for debt exchanges and the issuance of several exposure drafts for comment in the fourth quarter of 2026.

Final Accounting Standards Issued

• In September 2026, the FASB issued ASU 2026-03—Fair Value Measurement (Topic 820): Investment Companies with Equity Securities Subject to Contractual Sale Restrictions. This Update provides an exception to Topic 820 requiring that a contractual restriction on the sale of an equity security be considered in measuring the fair value of the equity security. The amendments also require that investment companies within the scope of Topic 946 disclose the amount of the discount attributable to the contractual sale restriction. It is effective for all entities for annual reporting periods beginning after December 15, 2027, and for interim reporting periods within those annual reporting periods. Early adoption is permitted.

Exposure Drafts

The following exposure drafts are open for comment as of September 30, 2026:

Taxonomy Updates

• The FASB issued a proposed Taxonomy Implementation Guide (Guide) based on the proposed interim GAAP Financial Reporting Taxonomy, which will be made available for comment later this year. 
• The FASB issued a proposed Taxonomy Implementation Guide, Financial Statement Location Dimensions: A Guide for Preparers (Guide). The comment period ended on August 20, 2026.
• The FASB issued for comment proposed GAAP Taxonomy Improvements for the following proposed Accounting Standards Update: Statement of Cash Flows (Topic 230): Cash Equivalents—Disclosure Enhancement and Evaluation of Certain Digital Assets. The comment period ends on November 19, 2026.
• The FASB issued for comment proposed technical and other conforming improvements for the 2027 SEC Reporting Taxonomy (SRT). The comment period ends on October 30, 2026.
• The FASB issued for comment proposed GAAP Taxonomy Improvements for the following proposed Accounting Standards Update: Codification Improvements. The comment period ends on November 19, 2026.
• The FASB issued for comment proposed GAAP Taxonomy Improvements for the following proposed Accounting Standards Update: Transfers and Servicing—Servicing Assets and Liabilities (Subtopic 860-50): Mortgage Servicing Rights—Recapture. The comment period ends on November 9, 2026.

Meetings

The following summarizes the various meetings with the FASB. Full recaps and more details can be found at FASB.org.

• The FASB met on July 8, 2026 to discuss business combinations and asset acquisitions.
• The FASB met on July 29, 2026 to discuss adding goodwill to its technical agenda.
• The FASB met on August 5, 2026 to discuss Application of the Topic 815 Normal Purchases and Normal Sales Scope Exception to Electricity Contracts and equity securities subject to contractual sale restrictions held by investment companies.
• The FASB met on August 19, 2026 to discuss Consideration Payable to a Customer and revenue-related topics as part of the 2025 Invitation to Comment, Agenda Consultation.
• The FASB met on August 26, 2026 to discuss debt modifications, extinguishments, and troubled debt restructurings.
• The FASB met on September 16, 2026 to discuss Stakeholder feedback received on Topic 860, Transfers and Servicing, accounting for derivatives, and leases.
• The Financial Accounting Standards Advisory Council (FASAC) met on September 17, 2026 to discuss disclosure effectiveness, use of management intent in financial reporting, disaggregation of income statement expenses implementation, current trends and emerging issues, agenda consultation, and effects of the use of technology on standard setting.
• The FASB met on September 23, 2026 to discuss Stakeholder feedback received on insurance and reinsurance topics, and fair value hedging.
• The Private Company Council (PCC) and the AICPA Private Companies Practice Section Technical Issues Committee (TIC) met on September 28, 2026 to discuss leases, employee stock ownership plans, PCC agenda priorities, effects and the use of technology on financial reporting and standard setting, and future areas for PCC-TIC collaboration.
• The PCC met on September 29, 2026 to discuss PCC research projects on employee stock ownership plans and leases, accounting for changes in debt, application of Topic 815 scope exception to retail electricity contracts, FASB agenda consultation and PCC agenda priorities, targeted improvements to goodwill impairment testing, consideration payable to a customer, accounting for nonrefundable transferable tax credits and other recent FASB and EITF activities.
• The FASB and the TIC met on September 29, 2026 to discuss FASB agenda consultation, accounting for changes in debt, definition of common control, indexation-debt and equity, targeted improvements to goodwill impairment testing, and equity method of accounting.