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Highlights from the FASB’s March 22 meeting

  • FASB meeting Image

Mar 23, 2017

At its March 22, 2017, meeting, the FASB discussed its projects on (1) hedging and (2) liabilities and equity.

Accounting for financial instruments — hedging

The Board made decisions related to its September 2016 proposed ASU, Targeted Improvements to Accounting for Hedging Activities, on (1) cross currency basis spreads and (2) recognition related to excluded components.

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

Liabilities and equity — targeted improvements

The Board discussed comment-letter feedback received on its December 2016 proposed ASU, I. Accounting for Certain Financial Instruments With Down Round Features, and II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests With a Scope Exception. The feedback concerned (1) accounting for instruments with down-round features, (2) the indefinite deferral in ASC 480 related to mandatorily redeemable financial instruments of certain nonpublic entities and certain mandatorily redeemable noncontrolling interests, and (3) navigation of the Codification.

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.