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Disclosure framework: Disclosure review — Fair value measurement

The objective of this project is to improve the effectiveness of disclosures for fair value measurement.

 

Meeting minutes

  • February 7, 2018 — The Board redeliberated the amendments in the proposed ASU, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement.
  • June 1, 2016 — The Board discussed comments received on its proposed ASU.
  • November 11, 2015 — The Board discussed issues on the development of an ED addressing disclosures about fair value measurement. The Board’s technical plan calls for this document to be issued in the fourth quarter of 2015.
  • October 21, 2015 — The Board discussed disclosures for fair value measurement.
  • October 7, 2015 — The Board discussed issues related to the development of an exposure draft.
  • July 9, 2015 The Board discussed potential changes to the fair value measurement disclosure requirements and made tentative decisions related to the disclosure requirements for private company defined benefit plan sponsors.
  • March 4, 2015 — The Board discussed issues relating to the development of an exposure draft.
  • February 18, 2015 — The Board discussed how to amend the fair value measurement disclosure requirements throughout the Codification in a way that promotes “the use of discretion by reporting entities.”
  • September 3, 2014 — The Board discussed potential changes to fair value measurement disclosure requirements on the basis of the concepts and decision questions in the proposed FASB Concepts Statement, Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements.
  • April 4, 2014 — The Board discussed (1) results from the field study that was conducted to better understand the use of discretion in notes to financial statements and (2) next steps based on the field study findings.

 

Current status

On June 1, 2016, the FASB directed its staff to reach out to investors and other financial statement users regarding the proposed ASU.

 

Project milestones

Date Developments Comments
March 4, 2014 Exposure Draft, Conceptual Framework for Financial Reporting: Chapter 8: Notes to Financial Statements, is issued by the FASB. Comment deadline July 14, 2014.
December 3, 2015 Proposed ASU, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, is issued by the FASB. Comment deadline February 29, 2016.

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