Highlights of the FASB’s August 21 Meeting
August 22, 2019
At its August 21, 2019, meeting, the FASB discussed (1) hedging — last-of-layer method and (2) reporting of gifts-in-kind by not-for-profit entities.
Hedging — Last-of-Layer Method
During this educational session, the Board discussed issues related to accounting for basis adjustments and multiple-layer hedging strategies under the last-of-layer method. No decisions were made.
For more information, see the tentative Board decisions on the FASB’s Web site.
Reporting of Gifts-in-Kind by Not-for-Profit Entities
The Board decided to add a project to its technical agenda to address the presentation and valuation of gifts-in-kind (GIKs) received by not-for-profit organizations. The project aims “to provide additional transparency in the reporting of GIKs through potential enhancements to presentation and disclosure.”
For more information, see the tentative Board decisions on the FASB’s Web site.