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Highlights from the FASB’s April 4 meeting

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Apr 07, 2014

At its April 4, 2014, meeting, the FASB discussed its projects on classification and measurement of financial instruments, investment company disclosures, and the disclosure framework.

 

Financial instruments — Classification and measurement

The FASB continued redeliberating its proposed Accounting Standards Update, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, and tentatively decided to retain the fair value option within the current U.S. GAAP.

For more information, see the related Deloitte Accounting Journal entry and the meeting minutes on the FASB's Web site.

 

Investment companies — Disclosures about investments in another investment company

The FASB discussed issues raised by external stakeholders on its draft of the proposed FASB Accounting Standards Update, Financial Services — Investment Companies (Topic 946): Disclosures About Investments in Other Investment Companies, and tentatively decided not to require disclosure of information about investments in another investment company.

For more information, see the related Deloitte Accounting Journal entry and the meeting minutes on the FASB's Web site.

 

Disclosure framework: Entity’s decision process

The FASB discussed the results of a field study on better understanding the use of discretion in notes to financial statements and what the Board’s next steps should be as a result of the study’s findings. No decisions were made during this session.

For more information, see the meeting minutes on the FASB's Web site.

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