FASB Ratifies EITF Consensus-for-Exposure

At its June 26, 2019, meeting, the FASB ratified the Emerging Issues Task Force (EITF) consensus-for-exposure on Issue 19-A, “Financial Instruments — Clarifying the Interactions Between Topic 321 and Topic 323,” and directed its staff to draft a proposed ASU for public comment.

In addition, the Board added a project on the presentation, disclosure, and valuation of gift-in-kind contributions to its research agenda.

For more information, see Deloitte’s EITF Snapshot as well as the meeting minutes on the FASB's Web site.