At its meeting today, the FASB decided to proceed with issuing a final standard on a portion of the investment company project (i.e., primarily on the revised definition of an investment company). The Board discussed feedback from constituents¹ related to the additional disclosure requirements about an investment company’s interest in another investment company² that were proposed at the August 29, 2012, board meeting. However, on the basis of that feedback, the FASB decided to continue deliberating the additional disclosure requirements as part of a separate project. At an earlier meeting, the FASB also decided that it would address the accounting for real estate property investments, including the accounting for real estate investment trusts (both mortgage and equity real estate investment trusts), as a separate project.

The Board expects to issue the final standard by the end of the first half of 2013.

[1] See the Board’s investment company project page for a summary of feedback on the tentative disclosure requirements.

[2] See Deloitte’s August 30, 2012, journal entry, for details about the proposed disclosure requirements.