FASB Holds December 9 Meeting
December 11, 2020
At its December 9, 2020, meeting, the FASB discussed its projects on the following topics:
- Reference rate reform — The FASB discussed feedback on its proposed ASU Reference Rate Reform (Topic 848): Scope Refinement and directed its staff to draft a final ASU for a vote by written ballot.
- Revenue recognition — The Board discussed feedback and completed deliberations on its proposed ASU Franchisors — Revenue from Contracts With Customers (Subtopic 952-606): Practical Expedient. The FASB directed its staff to draft a final ASU for a vote by written ballot.
- Conceptual framework — The FASB discussed feedback on proposed Concepts Statement No. 8, Conceptual Framework for Financial Reporting — Chapter 7, Presentation. The Board directed its staff to draft the final version of the chapter for a vote by written ballot.