At its August 26, 2020, meeting, the FASB discussed its projects on the following topics:
Distinguishing liabilities from equity (phase 2) — The Board began
deliberating this project by discussing its direction, objective, and scope.
The Board intends to “improve and align the two existing indexation models
used to evaluate financial instruments with characteristics of equity by
developing an indexation principle to reduce inconsistencies across
Codification improvements — The Board discussed the
amendments in its proposed
ASUCodification Improvements and made several decisions. It also
discussed the final ASU’s effective date and transition guidance and
concluded that the expected benefits of the amendments would justify the
costs. The Board directed its staff to begin drafting a final ASU for a vote
by written ballot.