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Highlights of the FASB’s March 7 meeting

  • FASB meeting Image

Mar 08, 2018

At its March 7, 2018, meeting, the FASB discussed its projects on (1) targeted improvements to leases and (2) disclosure requirements related to fair value measurement.

Targeted improvements to leases

The FASB discussed comments received on its proposed ASU Leases (Topic 842): Targeted Improvements and made tentative decisions related to clarifying the transition method for adopting the new requirements in ASC 842.

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

Disclosure framework: disclosure review — fair value measurement

The Board continued deliberating its proposed ASU Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement and made decisions related to:

  • Industry-specific disclosures.
  • Disclosure exemptions for nonpublic entities.
  • Disclosure objective.
  • Immaterial disclosures.
  • Transition.
  • Effective date and early adoption.
  • Costs and benefits.

The Board directed its staff to draft a final ASU for a vote by written ballot. For more information, see the tentative Board decisions 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.