FASB Holds August 19 Meeting
August 20, 2020
At its August 19, 2020, meeting, the FASB discussed its projects on the following topics:
- Codification improvements to guidance on nonrefundable fees and other costs — The Board discussed clarifications to ASC 310-20 and directed its staff to draft a final ASU for a vote by written ballot.
- Disclosure requirements for interim reporting — The Board (1) decided to make several clarifications and additions related to the interim disclosure requirements in ASC 270 and (2) directed its staff to analyze whether disclosure requirements should be removed from ASC 270 “on the basis of the catch-all principle.”