Accounting Rulemaker Grapples With 10-Q Disclosure Requirements

It was supposed to have been a simple lift: Insert into US accounting rules a concept about disclosures that used to be enshrined in Securities and Exchange Commission regulations.

It’s turned out to be more complicated than that, members of the Financial Accounting Standards Board said Wednesday, deciding that they needed more time to tweak a plan to clarify what companies need to disclose in quarterly periods. Two board members—Christine Botosan and Gary Buesser—said confusion about how the public interpreted the plan meant it should be dropped entirely.

Investors, companies, and auditors saw the plan as a ...