FASB Holds December 6 Meeting

At its December 6 meeting, the FASB decided to add to its technical agenda a project on refining the scope of the derivative guidance in ASC 815. In addition, the Board began its initial deliberations related to the project by considering comment-letter and stakeholder feedback it has received on applying the “definition of a derivative to various arrangements with contingent features.” Among other tentative decisions, ASC 815 would be amended “to incorporate a scope exception for contracts with underlyings based on the operations or activities that are specific to one of the parties to the contract.”

For more information, see the tentative Board decisions on the FASB’s Web site.