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FASB proposes required disclosures for supplier finance programs

On December 20, the FASB issued an exposure draft of a proposal that would require an entity that uses supplier finance programs to make disclosures about the program’s nature, activity during the period, changes from period to period, and potential magnitude. Currently, there are no explicit GAAP disclosure requirements for these programs, and financial statement users have asked for more transparency. Supplier finance programs, which may also be referred to as reverse factoring, payables finance, or structured payables arrangements, allow a buyer to offer its suppliers access to payment in advance of an invoice due date provided by a third-party finance provider or intermediary. Comments on the proposal are due by March 21, 2022.

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