SUMMARY OF BOARD DECISIONSSummary of Board decisions are provided for the information and convenience of constituents who want to follow the Board’s deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions are included in an Exposure Draft for formal comment only after a formal written ballot. Decisions in an Exposure Draft may be (and often are) changed in redeliberations based on information provided to the Board in comment letters, at public roundtable discussions, and through other communication channels. Decisions become final only after a formal written ballot to issue an Accounting Standards Update. November 11, 2009 Board Meeting Statement 167 implementation. [The summary of decision for this topic will be posted as soon as it is available.]Reconsideration of the scope of Statement 160. The Board discussed comments received on Proposed Accounting Standards Update, Consolidation (Topic 810): Accounting and Reporting for Decreases in Ownership of a Subsidiary—a Scope Clarification. The Board affirmed its proposal that the decrease in ownership provisions of Topic 810 would apply to subsidiaries or groups of assets that are businesses or nonprofit activities, but would not apply to sales of in-substance real estate even if the real estate would be considered a business. The Board clarified the guidance for accounting for decreases in ownership of subsidiaries that are not businesses or nonprofit activities. The Board decided that an entity should evaluate the substance of the transaction and determine whether guidance outside Topic 810 addresses the accounting for that transaction. If the substance of the transaction is not addressed by other guidance, the entity should then apply the guidance in Topic 810. The Board affirmed that the amendments to Topic 810 will be effective for periods ending on or after December 15, 2009 and should be applied retrospectively for entities that have already adopted the guidance in Subtopic 810-10. The Board directed the staff to proceed to a draft of a final Accounting Standards Update for vote by written ballot. Oil and gas disclosures. [The summary of decision for this topic will be posted as soon as it is available.] Improving disclosures about fair value measurements. [The summary of decision for this topic will be posted as soon as it is available.] |