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Highlights from the FASB’s February 3 meeting

  • FASB meeting Image

Feb 05, 2016

At its February 3, 2016, meeting, the FASB discussed (1) its technical agenda and (2) financial statements of not-for-profit entities.

Discussion paper — technical agenda

The FASB decided to include the following financial reporting issues in its upcoming agenda discussion paper:

  • Pensions and other postretirement employee benefit plans.
  • Intangible assets.
  • Distinguishing liabilities from equity.
  • Financial performance reporting.

In addition, the FASB will continue to perform preagenda research on consolidations as well as inventory and costs of sales.

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

Financial statements of not-for-profit entities

The FASB discussed feedback on its proposed ASU Presentation of Financial Statements of Not-for-Profit Entities and made tentative decisions related to (1) "[n]etting of external and direct internal investment expenses against investment return," (2) "[d]isclosure of netted investment expenses," (3) "[e]xpenses by nature and analysis of expenses by function and nature," and (4) "[e]nhanced disclosures about cost allocations and improved guidance on management and general activities." For more information, see 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.