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Highlights from the FASB’s February 25 meeting

  • FASB meeting Image

Feb 27, 2015

At its February 25, 2015, meeting, the FASB discussed its projects on (1) hedging, (2) financial performance reporting, (3) leases, and (4) financial statements for not-for-profit entities.

  • Financial instruments — hedging — The FASB held an educational session on this topic to discuss (1) the hedge effectiveness threshold and whether to require a quantitative or qualitative assessment of hedge effectiveness and (2) component hedging. For more information, see the ten­ta­tive Board de­ci­sions on the FASB’s Web site.
  • Financial performance reporting — The FASB dis­cussed the staff’s research on alternative ways to define operating activities and indicated that this research should focus on distinguishing between recurring and nonrecurring/infrequent items. For more information, see the meeting minutes on the FASB's Web site.
  • Leases — The FASB dis­cussed the reassessment of variable lease payments and transition requirements. The following remaining items will be addressed at an upcoming meeting: Private Company Council feedback, the cost and complexity of the leases proposal, and the final standard’s effective date. For more information, see the related De­loitte journal entry and the meeting minutes on the FASB's Web site.
  • Financial statements for not-for-profit entities — The FASB discussed the results of an external review of its proposed ASU as well as the proposed transition requirements, effective date, and comment period. For more information, see the meeting minutes on the FASB's Web site.

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