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Highlights of the FASB’s December 13 meeting

  • FASB meeting Image

Dec 15, 2017

At its December 13, 2017, meeting, the FASB discussed (1) implementation of its standard on credit losses, (2) improvements to nonemployee share-based payment accounting, (3) revenue recognition of grants and contracts by not-for-profit entities, (4) distinguishing liabilities from equity, (5) segment reporting, and (6) financial performance reporting.

Financial instruments — implementation of standard on credit losses

The Board dis­cussed various implementation issues related to ASU 2016-13, Measurement of Credit Losses on Financial Instruments, and made tentative decisions on troubled debt restructurings, variable-rate financial assets, and subsequent events.

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

Improvements to nonemployee share-based payment accounting

The Board dis­cussed feedback received on its proposed ASU Improvements to Nonemployee Share-Based Payment Accounting. The Board directed its staff to draft a final ASU for a vote by written ballot.

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

Revenue recognition of grants and contracts by not-for-profit entities

The Board dis­cussed feedback received on its proposed ASU Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. No decisions were made.

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

Distinguishing liabilities from equity

The Board held an educational session to discuss the project plan. For more in­for­ma­tion, see the meeting minutes on the FASB’s Web site.

Segment reporting

The Board held an educational session to discuss the project plan and the interaction with its project on disclosure framework: disclosure review — inventory. For more in­for­ma­tion, see the meeting minutes on the FASB’s Web site.

Financial performance reporting — disaggregation of performance

The Board held an educational session to discuss the project plan and the staff’s research on presentation practices of private companies. For more in­for­ma­tion, see the meeting minutes on the FASB’s Web site.

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