Summary of Board Decisions
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.
September 11, 2013 FASB Board Meeting
EITF
Issue No. 12-G. The Board decided to extend the comment deadline of the
proposed Accounting Standards Update, Consolidation (Topic 810): Measuring
the Financial Liabilities of a Consolidated Collateralized Financing
Entity, to October 17, 2013.
Development
Stage Entities. The Board directed the staff to draft a proposed Accounting
Standards Update that would supersede all of the incremental presentation and
disclosure requirements for development stage entities that are currently
required by Topic 915, Development Stage Entities. The Board tentatively decided
that the proposed Update would be applicable to financial statements issued
after the effective date, with the option of early adoption. The proposed Update
will have a minimum 45-day comment period.
Consolidation—Policy
and Procedures. The Board discussed a plan for redeliberation of the 2011
proposed Accounting Standards Update, Consolidation (Topic 810): Principal
versus Agent Analysis. The Board estimates a final Update will be issued in
the second half of 2014. No technical decisions were made.