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Highlights from the FASB’s November 23 meeting

  • FASB meeting Image

Nov 24, 2015

At its November 23, 2015, meeting, the FASB discussed (1) its proposal on improvements to the accounting for share-based payment, (2) its 2012 proposal on impairment, and (3) clarifications to the definition of a business.

Improvements to the accounting for employee share-based payments

The FASB dis­cussed feed­back re­ceived on its pro­posed Ac­count­ing Stan­dards Update (ASU) Improvements to Employee Share-Based Payment Accounting. As indicated in the tentative Board decisions, the FASB affirmed its proposed amendments related to:

  1. “Accounting for income taxes upon vesting or settlement of awards.
  2. Presentation of excess tax benefits on the statement of cash flows.
  3. Accounting for forfeitures.
  4. Minimum statutory withholding requirements.
  5. Presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet minimum statutory withholding requirements.
  6. Private company practical expedients.
    1. Expected term
    2. Intrinsic value.”

In ad­di­tion, the FASB made tentative decisions related to the transition method, disclosures in the adoption period, disclosures about accounting for forfeitures, and the effective date of the final standard. The FASB di­rected its staff to draft an ASU for vote by written ballot.

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

Financial instruments — impairment

The FASB discussed feedback related to purchased financial assets with credit deterioration. No decisions were made.

Clarifying the definition of a business (phase 2)

The FASB discussed the scope of its guidance on gains and losses from the derecognition of nonfinancial assets, in-substance nonfinancial assets, and the accounting for partial sales. No decisions were made.

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

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