FASB Discusses Agenda Prioritization at December 20 Meeting

At its December 20 meeting, the FASB discussed research and analysis related to recent agenda requests and decided not to add projects on the following to its agenda: (1) “Clarifying the Scope and Application of Topic 480, Distinguishing Liabilities from Equity, for Legal Form Debt Instruments”; (2) “Accounting for Equity Securities”; (3) “Eliminating the Held-to-Maturity (HTM) Classification for Debt Securities”; (4) “Making Other Amendments to the Accounting for HTM Debt Securities”; and “ (5) “Topic 740, Income Taxes, Backwards Tracing.”

The Board also decided not to add a project on accounting for commodities to its technical agenda but plans to retain the project on the research agenda.

Further, “the Board decided that certain potential presentation and disclosure requirements for HTM debt securities will be discussed at a future Agenda Prioritization meeting along with interest rate risk and liquidity risk disclosures.”

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