Tentative Board Decisions

Tentative Board decisions are provided for those interested in following the Board’s deliberations. All of the reported decisions are tentative and may be changed at future Board meetings.

June 25, 2014 FASB Board Meeting

Financial Statement Presentation. The Board began discussions on the objective and scope of the Financial Statement Presentation research project.

The Board decided that the primary objective of the research project would be to evaluate ways it might improve the relevance of information presented in the performance statement and that the Board would consider related changes resulting from this objective.

The Board directed the staff to focus on the following two areas within the scope of the project: (1) a framework for determining an operating performance metric and (2) distinguishing between recurring and nonrecurring or infrequently occurring items within the performance statement.

In addition to these two areas, the Board directed the staff to research and consider potential related changes that may arise from (1) and (2) in the following respects:
  1. Additional disaggregation in the performance statement
  2. Transparency of remeasurements
  3. Related changes to segment reporting
  4. Linkages across the primary statements.
The Board agreed to rename this project because its objective and scope are different from the objective and scope of the previous Financial Statement Presentation project, which was undertaken jointly with the IASB. The project will be renamed the Financial Performance Reporting project.