Summary 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.
October 27, 2010 FASB Board Meeting
Accounting for financial instruments. The staff summarized for the Board significant feedback received on the proposal for classification and measurement of financial instruments included in the May 2010 Exposure Draft, Accounting for Financial Instruments and Revisions to the Accounting for Derivative Instruments and Hedging Activities—Financial Instruments (Topic 825) and Derivatives and Hedging (Topic 815), through outreach efforts performed to date. The Board had received a summary of significant feedback on its proposed credit impairment and interest income recognition models at the October 21, 2010 joint meeting with the IASB.