Tom Barbieri, PwC’s Chief Accountant, is accelerating the first episode in our October all-star series to share insights on critical accounting and reporting topics.To kick off the series, Tom is joined by Gary Sardo, Financial Accounting Standards Board (FASB) practice fellow, to discuss FASB’s disaggregation of income statement expenses (DISE) project.In this episode, you’ll hear:3:51 - An overview of investor feedback and background on the FASB’s decision to propose enhancing the disclosure requirements for income statement expenses7:54 - Companies impacted by the proposed standards10:32 - A breakdown of the proposed disclosure requirements, including:13:42 - Defining “relevant expense captions,” distinguishing features of each caption and the associated proposed requirements16:22 - Materiality considerations17:30 - Investor and preparer feedback on the proposed standard, including practical challenges in the inventory expense breakdown21:26 - Details on the proposal to further break down inventory and manufacturing expense24:00 - Operability challenges and data needs that companies should be considering now24:42 - Details on the proposed disclosure requirements for:24:44 - “Other” expense categories29:59 - Selling expenses32:26 - A summary of the proposed reporting requirements, including timing considerations and how companies can prepare for the transition37:53 - Next steps on the FASB’s agenda and final advice for companies who seek to get prepared and engaged prior to the end of the comment periodFor more on the status and details of the project, refer to the exposure draft on the FASB website. Additionally, tune into PwC’s Q3 2023 quarterly accounting webcast for more on the DISE project.Tom Barbieri is PwC’s Chief Accountant. He has over 30 years of experience advising large financial services and multinational corporations on complex accounting issues. Tom leads the Accounting & SEC Services Group within the National Office, which is focused on supporting our clients and engagement teams in navigating complex technical accounting and financial reporting matters. He is also a member of the Financial Accounting Standards Advisory Council.Gary Sardo is a practice fellow at the Financial Accounting Standards Board. Prior to his role at the FASB, Gary was a director at PwC with over 15 years of experience, most recently in PwC’s Deals practice specializing in capital markets and accounting advisory services.Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com