FASB Clarifies Scope Terminology Related to EITF Issue 19-C

At its October 14, 2020, meeting, the FASB decided to clarify the scope terminology used in the upcoming proposed Accounting Standards Update based on EITF Issue 19-C. Specifically, the Board decided to use the phrase “freestanding equity-classified forwards and options” instead of “freestanding equity-classified derivative instruments.”

For more information, see Deloitte’s EITF Snapshot as well as the tentative Board decisions on the FASB’s Web site.