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 10, 2013 FASB Board Meeting
Leases.
The Board discussed the effects of the decisions reached in the leases project
on financial reporting complexity. The Board directed the staff to draft a
proposed Accounting Standards Update for vote by written
ballot.
Agenda decision: fair value measurement disclosures of
private company employer securities held by employee benefit plans. The
Board discussed whether to add a project to the FASB agenda to exempt or
indefinitely defer for nonpublic employee benefits plans (plans other than those
subject to the Form 11-K filing requirements of the Securities and Exchange
Commission) the requirement to provide certain disclosures about the fair value
of investments in private company equity securities of the plan sponsor. The
Board made the following decisions:
To add the project to the agenda.
To expose for public comment a proposal to indefinitely defer the
requirement that a nonpublic employee benefit plan disclose the quantitative
fair value information required by paragraph 820-10-50-2(bbb) for
investments in private company equity securities of the plan sponsor,
regardless of what other private company equity securities are held by the
nonpublic employee benefit plan.
To provide a comment period extending through May 31, 2013.
The
Board directed the staff to draft a proposed Accounting Standards Update for
vote by written ballot.
Open discussion: private company
decision-making framework. The Board decided that the comment period for the
Private Company Decision-Making Framework should end on June 21, 2013. This
comment period end date will give the staff time to provide the FASB and Private
Company Council (PCC) members with a summary of comment letters before the July
16, 2013 Council meeting. At that meeting, the Board and PCC are expected to
consider the need for changes to the Framework in light of the feedback
received.