Highlights of the FASB’s February 12 meeting
February 13, 2020
At its February 12, 2020, meeting, the FASB discussed its project on income tax
disclosure requirements and endorsed a Private Company Council (PCC) consensus.
Income Tax Disclosure Requirements
The Board discussed comments on its March 2019 proposed Accounting Standards
Update (ASU), Disclosure Framework — Changes to the Disclosure Requirements
for Income Taxes, and directed the staff to research (1) alternatives
related to disclosing “certain disaggregated income tax information” and (2)
“various other proposed amendments.”
For more information, see tentative Board decisions on the FASB’s Web site.
FASB Endorsement of PCC Consensus
The Board endorsed certain decisions made during the December 16, 2019, PCC
meeting on Issue No. 2018-01, “Practical Expedient to Measure Grant-Date Fair
Value of Equity-Classified Share-Based Awards,” and directed the staff to draft
a proposed ASU for a vote by written ballot.
For more information, see tentative Board decisions on the FASB’s Web site.