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.
November 12, 2014 FASB
Board Meeting
Financial
Instruments—Classification and Measurement. The Board continued
redeliberating the February 2013 proposed Accounting Standards Update,
Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement
of Financial Assets and Financial Liabilities, specifically discussing the
cost and complexity of the Board’s decisions reached to date and the transition
approach that should be applied to the resulting amendments to generally
accepted accounting principles.
The Board requested that the staff
perform additional research regarding core deposit liability disclosures and the
effect of the proposed Accounting Standards Update’s accounting for equity
securities with readily determinable fair values, which would effectively remove
the accounting category of available-for-sale for equity securities.
Consolidation—Principal
versus Agent Analysis. The staff updated the Board on the progress of the
November 2011 proposed FASB Accounting Standards Update, Consolidation
(Topic 810): Principal versus Agent Analysis.
Project
Update
The staff provided the Board with an update on the project,
including the extended external review process of the draft of the final
Accounting Standards Update. The staff is analyzing the comments received to
date and plans to return to the Board for a decision-making Board meeting in
December 2014 to discuss certain technical issues identified through the
external review process. Assuming the Board makes decisions on those technical
issues and is ready to proceed to balloting, the staff expects the final
Accounting Standards Update to be issued no earlier than February 2015.