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Simplifying the subsequent measurement of inventory

The objective of this project is to reduce the cost and complexity of financial reporting related to inventory measurement.

 

Meeting minutes

  • May 13, 2015 — The Board discussed results from outreach performed.
  • December 17, 2014 —The Board discussed comments it received on its proposed Accounting Standards Update (ASU), Simplifying the Measurement of Inventory.
  • May 28, 2014 — The Board decided to add this project to its agenda and made tentative decisions.

 

Current status

On July 22, 2015, the FASB issued Accounting Standards Update No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory.

 

Project milestones

DateDevelopmentsComments
May 28, 2014 Added to the FASB's agenda.
July 15, 2014 Proposed ASU, Inventory (Topic 330): Simplifying the Measurement of Inventory. Comments due September 30, 2014.
July 22, 2015 FASB Accounting Standards Update No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. Effective December 15, 2016, for public entities.

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