Summary of Board Decisions

Summary of Board decisions are provided for the information and convenience of constituents who want to follow the Board’s deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions are included in an Exposure Draft for formal comment only after a formal written ballot. Decisions in an Exposure Draft may be (and often are) changed in redeliberations based on information provided to the Board in comment letters, at public roundtable discussions, and through other communication channels. Decisions become final only after a formal written ballot to issue an Accounting Standards Update.

July 10, 2013 FASB Board Meeting

Definition of a Nonpublic Entity. The Board decided to issue an Exposure Draft of a proposal that would amend the Master Glossary in the FASB Accounting Standards Codification® to include the definition of a public business entity that would apply prospectively to new accounting and reporting standards. The Board directed the staff to draft a proposed Accounting Standards Update for vote by written ballot with a 45-day comment period.