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Highlights from the FASB’s February 1 meeting

  • FASB meeting Image

Feb 03, 2017

At its February 1, 2017, meeting, the FASB discussed the agenda consultation and its project on interest income associated with the purchase of callable debt securities.

Agenda con­sul­ta­tion

The Board dis­cussed feed­back re­ceived on Chapter 4 of its August 2016 in­vi­ta­tion to comment, Agenda Con­sul­ta­tion, on re­port­ing per­for­mance and cash flows. Chapter 4 is divided into five subtopics:

  1. Income statement.
  2. Segment reporting.
  3. Other comprehensive income.
  4. Cash flow statement.
  5. Potential paths forward.

No technical decisions were made during this session.

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

Accounting for interest income associated with the purchase of callable debt securities

The Board discussed feedback received on its September 2016 proposed ASU, Premium Amortization on Purchased Callable Debt Securities, and directed the staff to draft a final ASU that would shorten the premium amortization period to the first date the security could be called (“yield to first”).

For more in­for­ma­tion, see Deloitte's related journal entry as well as the meeting minutes on the FASB’s Web site.

Correction list for hyphenation

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