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.
August 26, 2015 FASB
Board Meeting
Conceptual
Framework—Measurement. The Board discussed matters relating to the planned
new measurement chapter of FASB Concepts Statement No. 8, Conceptual
Framework for Financial Reporting, specifically discussing what might be
included in the initial carrying amount of an asset, a liability, or an equity
instrument. No technical decisions were made.
Disclosure
Framework: Disclosure Review—Income Taxes. The Board discussed disclosures
related to unrecognized tax benefits, making the following decisions:
The Board decided to enhance the existing requirement to disclose a tabular
reconciliation of the unrecognized tax benefits at the beginning and end of the
period by requiring disclosure of:
- Settlements using existing tax assets separate from those that are
ultimately settled in cash
- A breakdown of the ending balance of the liability for unrecognized tax
benefits by the line items in the balance sheet in which the liability is
recognized.
The Board also decided that neither public nor private
entities would be required to disclose the nature and an estimate of the range
for a reasonably possible change in the unrecognized tax benefit balance in the
next 12 months or a statement that an estimate of the range cannot be made.