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Fair value measurement disclosures of private company equity securities by employee benefit plans

The objective and primary focus of this completed project was to address an issue brought to the FASB’s attention involving proprietary information of private companies in U.S. GAAP financial statements being made public in connection with regulatory filings of employee benefit plans holding those securities.

 

Meeting minutes

FASB discussions regarding this project are found in the following meeting minutes:

  • June 12, 2013 — The Board discussed comments received on its proposed Accounting Standards Update (ASU), Fair Value Measurement (Topic 820): Deferral of the Effective Date of Certain Disclosures for Nonpublic Employee Benefit Plans, and directed the staff to draft a final ASU to be issued in the third quarter of 2013.
  • April 10, 2013 — The Board decided to add the project to its agenda.

 

Current status

A final ASU was issued on July 8, 2013. The deferral is effective immediately for all financial statements that have not yet been issued.

 

Project milestones

DateDevelopmentComments
April 10, 2013 Added to the FASB's agenda.
April 30, 2013 Proposed ASU, Fair Value Measurement, Deferral of the Effective Date of Certain Disclosures for Nonpublic Employee Benefit Plans. Comment deadline May 31, 2013.
June 12, 2013 Board directed the staff to draft a final ASU.
July 8, 2013 FASB Accounting Standards Update No. 2013-09, Fair Value Measurement (Topic 820): Deferral of the Effective Date of Certain Disclosures for Nonpublic Employee Benefit Plans in Update No. 2011-04.

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