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.
Wednesday, March 14, 2018 FASB Board Meeting
Disclosures by business entities about government assistance. The
Board discussed the proposed amendments and prior decisions made during
redeliberations on the proposed Accounting Standards Update, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. No decisions were made.
Disclosure framework: disclosure review—defined benefit plans. The Board completed redeliberations of the proposed Accounting Standards Update, Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Changes to the Disclosure Requirements for Defined Benefit Plans. The Board made the following decisions:
Removal of the Disclosure of the Effect of a One-Percentage-Point Change in the Assumed Health Care Cost Trend Rates
The Board confirmed its decision to remove the disclosure of the effect
of a one-percentage-point increase and the effect of a
one-percentage-point decrease in the assumed health care cost trend
rates for public entities.
Clarification of the Disclosure about Aggregate Information for Underfunded Pension Plans
The Board decided to retain the existing requirement in paragraph
715-20-50-3 with clarification that the disclosure about aggregate
information for underfunded (including unfunded) pension plans should be
based on both the projected benefit obligation (PBO) and the
accumulated benefit obligation (ABO) benchmarks.
Effective Date and Early Adoption
The Board decided that the effective date will be fiscal years ending
after December 15, 2020, for public business entities and December 15,
2021, for all other entities. Early adoption is permitted. The effective
date would be expressed as "fiscal years ending after" because no
amendments are made to the interim disclosure requirements included in
Subtopic 715-20.
Cost and Benefits
The Board decided that the expected benefits justify the expected costs
of the changes and directed the staff to draft an Accounting Standards
Update for vote by written ballot.