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Highlights from the FASB's September 16 meeting

  • FASB meeting Image

Sep 17, 2015

At its September 16, 2015, meeting, the FASB discussed its projects on (1) long-duration insurance contracts, (2) disclosures about interest income on purchased debt securities and loans, and (3) liabilities and equity.

Long-duration insurance contracts

The FASB discussed the accounting for certain participating life insurance contracts and certain benefits in nontraditional contracts. For more information, see Deloitte’s related journal entry and the meeting minutes on the FASB’s Web site.

Disclosures about interest income on purchased debt securities and loans

The FASB discussed the scope of this new project. For more information, see the meeting minutes on the FASB’s Web site.

Liabilities and equity

The FASB began deliberating the first phase of its targeted-improvements project related to liabilities and equity. In this phase, the Board plans to address (1) the accounting for equity-linked financial instruments containing “down-round” features and (2) the indefinite deferral of the liability classification requirements in ASC 480 for certain instruments and entities. For more information, see Deloitte’s related journal entry and the meeting minutes on the FASB’s Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.