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Journal entry — Investment-company disclosures — FASB decides to issue an exposure draft

Published on: Jul 31, 2014

At its meeting yesterday, the FASB discussed investment-company disclosures, specifically disclosures about investments in another investment company. The Board decided to issue a proposed ASU to obtain feedback on its previous decisions that:1

  • “A feeder fund should attach the master fund’s financial statements along with its [own] financial statements.”
  • “All investments companies [regulated and nonregulated] should disclose [information about investments] owned by an investee fund that exceeds 5 percent of the reporting investment company’s net assets at the reporting date.”

The exposure draft is expected to be issued in September for a 75-day comment period.


1 Quoted material is from the tentative Board decisions on the FASB’s Web site.

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