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Scope modification accounting in Topic 718

The objective of this project is to reduce cost and complexity in applying modification accounting in ASC 718.

 

Meeting minutes

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

  • February 22, 2017 — The Board discussed issues during the development of a final ASU.
  • October 5, 2016 — The Board discussed amendments to the scope of modification accounting.
  • August 31, 2016 — The Board added this project to its agenda.

 

Current status

On May 10, 2017, the FASB issued an ASU, Scope of Modification Accounting.

 

Project milestones

Date Development Comments
May 10, 2017 ASU 2017-09, Scope of Modification Accounting, is issued. Effective for annual reporting periods, including interim periods within those annual reporting periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period.
August 31, 2016 Added to the FASB's technical agenda.
November 17, 2016 Proposed ASU, Scope of Modification Accounting, is issued. Comments due January 6, 2017.

 

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.