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.
April 27, 2011 FASB Board Meeting
Investment
properties. The Board decided that an investment property entity,
in accounting for a lease for which it is the lessee, would measure right-of-use
assets relating to investment properties at fair value with changes in fair
value recognized in net income. Right-of-use assets relating to noninvestment
property assets would be carried at amortized cost, consistent with the
Leases Exposure Draft.
The Board also decided that noninvestment
property assets held by investment property entities would be accounted for
under other applicable U.S. GAAP.