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Investment companies: Disclosures about investments in another investment company

The objective of this project is to require "disclosures in an investment company’s financial statements that will provide transparency into the risks, returns, and expenses of an investee that is also an investment company."

 

Meeting minutes

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

  • August 5, 2015 — The Board discussed feedback received through comment letters on its proposed ASU.
  • July 30, 2014 — The Board discussed whether to proceed to a proposed ASU for its tentative decisions.
  • April 4, 2014 — The Board discussed concerns raised by stakeholders on the tentative decisions reached relating to an investment company’s disclosures about investments in other investment companies.
  • October 23, 2013 — The Board discussed issues relating to the development of an exposure draft for a reporting investment company's potential disclosures about investments in another investment company.
  • March 13, 2013 — The Board decided not to include disclosure guidance relating to when an investment company invests in another investment company and directed the staff to draft a final ASU.
  • January 23, 2013 — The Board discussed (1) IASB changes to the jointly discussed investment company assessment, (2) disclosures, (3) transition requirements, and (4) effective date.
  • August 29, 2012 — The Board discussed (1) accounting by an investment company parent for an investment company subsidiary and (2) disclosure requirements for investments in another investment company.

 

Current status

The Board issued a proposed ASU on December 4, 2014.

 

Project milestones

DateDevelopmentsComments
October 21, 2011 Proposed ASU, Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement, and Disclosure Requirements, is issued. Comment deadline February 15, 2012.
December 4, 2014 Proposed ASU, Financial Services — Investment Companies (Topic 946): Disclosures About Investments in Other Investment Companies, is issued. Comment deadline February 17, 2015.

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.