FASB Holds March 5 Meeting

At its March 5, 2025, meeting, the FASB discussed feedback received on its October 2024 proposed Accounting Standards Update (ASU) Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity. The Board made tentative decisions related to (1) transactions that the proposal would affect and (2) the effective date, transition, and early adoption.

In addition, the Board concluded that the benefits of the proposed amendments are expected to outweigh the costs and directed the staff to draft a final ASU for a vote by written ballot.

For more information about the topics discussed at the meeting, see the tentative Board decisions on the FASB’s Web site.