FASB Holds September 22 Meeting
September 24, 2021
At its September 22, 2021, meeting, the FASB discussed its projects on the following topics:
- Agenda prioritization — The Board discussed recent agenda requests and decided to add a project to the Emerging Issues Task Force agenda to “expand the proportional amortization method to investments in tax credits other than low-income housing tax credit investments.”
- Disclosure of supplier finance program obligations — The Board discussed user outreach, potential disclosure requirements, and transition guidance and tentatively decided that “a buyer should disclose a rollforward of the amount confirmed by the buyer that is outstanding at the end of the reporting period.” In addition, the Board tentatively decided to “allow early adoption for financial statements that have not been issued or made available for issuance as of the issuance date of amendments in a final Accounting Standards Update [ASU].” The Board directed the staff to draft a proposed ASU with a 90-day comment period.