SUMMARY OF BOARD DECISIONSSummary 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. November 17, 2009 Board Meeting Accounting for financial instruments. The Board discussed the definition of amortized cost for use in its project on accounting for financial instruments. The Board decided that amortized cost would not be reduced by allowances for credit impairments but would be reduced for direct write-offs of principal amounts. The Board will finalize the exact wording of the definition after making decisions on how interest income would be recognized. |