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.
August 9, 2012 FASB Board Meeting
Accounting for financial instruments: classification and measurement. The Board decided that a nonpublic entity would not be required to present parenthetically or disclose fair value amounts for financial assets and financial liabilities measured at amortized cost.
At a future meeting the Board will discuss other disclosures including whether a nonpublic entity would be required to disclose the present value amount of demand deposit liabilities in the notes to the financial statements.