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Highlights from the FASB’s June 29 meeting

  • FASB meeting Image

Jun 30, 2015

At its June 29, 2015, meeting, the FASB discussed its projects on (1) hedging, (2) pensions and other postretirement benefits, and (3) disclosure framework.

  • Financial instruments: hedging — The FASB held its first decision-making meeting related to this project and discussed three “decision packages” proposed by its staff, which covered aspects of (1) the overall hedging model, (2) financial hedging relationships, and (3) the shortcut method. For more information, see Deloitte’s related journal entry as well as the meeting minutes on the FASB’s Web site.
  • Pensions and other postretirement benefits: presentation and disclosure — The FASB discussed (1) improving the presentation of net periodic pension cost and net periodic postretirement benefit cost and (2) potential changes to the disclosures about defined benefit plans that employers are required to provide in their financial statements when applying the disclosure framework. For more information, see Deloitte's related journal entry as well as the meeting minutes on the FASB's Web site.
  • Disclosure framework: defined benefit plans — The FASB discussed changes to an employer’s defined benefit plan disclosures based on the proposed concepts in the Board’s disclosure framework exposure draft and feedback received through the FASB staff’s outreach to stakeholders. The Board tentatively decided to add an overall objective for the disclosures and guidance on how an entity would consider materiality in determining the extent of its defined benefit plan disclosures. For more information, see Deloitte's related journal entry as well as the meeting minutes on the FASB's Web site.

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