The amendments include a new requirement, which states that companies must present a reconciliation of changes in stockholders’ equity as a separate statement or footnote in interim financial statements. New Requirement for Interim Financial Statements The amendments are part of the SEC’s effort to improve disclosure effectiveness and implement mandates included in the Fixing America’s Surface Transportation Act.
The SEC also added new disclosure requirements related to interim financial statements.
Statement of changes in stockholders equity update#
The included amendments are intended to simplify and update the SEC’s disclosure requirements and eliminate duplicative disclosures between the SEC rules and US generally accepted accounting principles. On August 17, 2018, the US Securities and Exchange Commission (SEC) adopted a new release, Disclosure Update and Simplification. Provider Reimbursement Enterprise Services.Operational Improvement & Performance Excellence.Bank Secrecy Act and Antimoney Laundering.Fair Value & Financial Statement Reporting.Quality of Earnings (Buy-Side/Sell-Side).Organizational & Operational Assessments.Tax Incentives Energy Efficient Buildings.Employer credit for family and medical leave.
State & Local Tax Controversy & Dispute Resolution.Federal Tax Controversy & Dispute Resolution.Environmental, Social, Governance (ESG).
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