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Highlights from the FASB’s March 2 meeting

  • FASB meeting Image

Mar 03, 2016

At its March 2, 2016, meeting, the FASB discussed (1) financial statements of not-for-profit entities (NFPs) and (2) the entity’s decision process portion of its disclosure framework project.

Fi­nan­cial state­ments of not-for-profit en­ti­ties

The FASB made ten­ta­tive de­ci­sions on (1) NFPs’ disclosures about operating measures and (2) information that can be used in the assessment of liquidity and resource availability. For more in­for­ma­tion, see the meeting minutes on the FASB’s Web site.

Disclosure framework: entity’s decision process

The FASB discussed comments on its proposed ASU Assessing Whether Disclosures Are Material as well as the proposed amendments to its concepts statement Conceptual Framework for Financial Reporting: Chapter 3 — Qualitative Characteristics of Useful Financial Information. No decisions were made. 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.