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Highlights from the FASB’s September 3 meeting

  • FASB meeting Image

Sep 04, 2014

At its September 3, 2014, meeting, the FASB discussed its projects on impairment and the disclosure framework.

 

Financial instruments — impairment

The FASB continued redeliberating its proposed ASU Financial Instruments — Credit Losses (Subtopic 825-15) and made tentative decisions related to (1) the definition of a write-off; (2) whether an entity should consider renewals, extensions, and modifications in estimating expected credit losses; and (3) how an entity would estimate expected credit losses on certain loan commitments.

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

 

Disclosure framework: disclosure review — fair value measurement

The FASB discussed how it might apply its proposed concepts statement Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements in changing disclosure requirements related to fair value measurement. No decisions were made.

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

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