At its October 12, 2022, meeting, the FASB discussed its projects on the following topics:
Accounting for and disclosure of crypto-assets — The Board discussed
the measurement of crypto-assets and tentatively decided to require entities
to (1) measure such assets at fair value under the guidance in ASC 820, (2)
recognize “increases and decreases in fair value in comprehensive income
each reporting period,” and (3) recognize as an expense certain costs
incurred to acquire the assets (e.g., commissions) unless other requirements
apply under specialized industry measurement guidance. The Board will
address matters related to presentation, disclosure, and transition at a
Financial instruments — credit losses (ASC 326) — acquired financial
assets — The Board tentatively decided to replace the term
“purchased with credit deterioration” with “purchased financial assets” and
made tentative decisions related to the types of assets that would be
included within the scope of the purchased financial asset accounting model.
The Board will continue its deliberations at a future meeting.
Agenda prioritization — employee benefit plans — The Board decided
not to add to its technical agenda a project on employee benefit plan
Agenda consultation — The Board discussed stakeholder feedback it
received on its June 2021 invitation to comment Agenda Consultation
related to the guidance in ASC 715 on retirement benefits.