Tentative Board Decisions
Tentative Board decisions are provided for those interested in following
the Board´s deliberations. All of the reported decisions are tentative and may
be changed at future Board meetings.August 5, 2015 Board
Companies—Disclosures about Investments in Other Investment Companies. The
Board discussed the feedback received through comment letters on the proposed
Accounting Standards Update, Financial Services—Investment Companies (Topic
946): Disclosures about Investments in Other Investment Companies,
specifically discussing proposed disclosure about the following:
The Board concluded that the
benefits of the information resulting from the proposed disclosures would not
justify the costs of preparing and providing the information and decided to
remove the project from its agenda. The Board decided to clarify, as part of
its Technical Corrections and Improvement project, that the requirement to
disclose investments held by investee funds applies only to nonregulated
- Master-feeder arrangements
- Investments held by investee funds.
for Measurement Period Adjustments in a Business Combination. The Board
discussed the comments received on its May 21, 2015 proposed Accounting
Standards Update, Business Combinations (Topic 805): Simplifying the
Accounting for Measurement-Period Adjustments, and made the following
Adjustments to Provisional Amounts
affirmed the proposal that an acquirer should recognize adjustments to
provisional amounts in the reporting period in which the adjustment amount is
determined and recognize the effects of changes in depreciation, amortization,
or other income effects arising from changes to the provisional amounts, if any,
in the income statement in the reporting period in which the adjustment to the
provisional amount is determined.
The Board also affirmed the proposal
that acquirers should disclose the effect on current-period earnings, by line
item, that would have been recognized in a previous period if the adjustment to
provisional amounts had been recognized as of the acquisition
Transition and Transition Disclosures
affirmed the proposal that acquirers should apply the changes prospectively to
adjustments to provisional amounts identified after the effective date of the
change that are within the measurement period. The Board also affirmed the
proposal to require the disclosures in paragraphs 250-10-50-1(a) through 50-2 in
the period of transition.
decided that the changes will be effective for pubic business entities for
annual periods, including interim periods within those annual periods, beginning
after December 15, 2015. The Board decided to permit early adoption for any
interim and annual financial statements that have not yet been issued.
all other entities, the Board decided that:
- The changes should be effective for fiscal years beginning after December
15, 2016, and interim periods within fiscal years beginning after December 15,
- Early adoption would be permitted in any interim and annual financial
statements that have not yet been made available for issuance.
The Board directed the staff to draft a final Accounting
Standards Update for vote by written ballot.