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.

November 12, 2014 FASB Board Meeting

Financial Instruments—Classification and Measurement. The Board continued redeliberating the February 2013 proposed Accounting Standards Update, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, specifically discussing the cost and complexity of the Board’s decisions reached to date and the transition approach that should be applied to the resulting amendments to generally accepted accounting principles.

The Board requested that the staff perform additional research regarding core deposit liability disclosures and the effect of the proposed Accounting Standards Update’s accounting for equity securities with readily determinable fair values, which would effectively remove the accounting category of available-for-sale for equity securities.

Consolidation—Principal versus Agent Analysis. The staff updated the Board on the progress of the November 2011 proposed FASB Accounting Standards Update, Consolidation (Topic 810): Principal versus Agent Analysis.

Project Update

The staff provided the Board with an update on the project, including the extended external review process of the draft of the final Accounting Standards Update. The staff is analyzing the comments received to date and plans to return to the Board for a decision-making Board meeting in December 2014 to discuss certain technical issues identified through the external review process. Assuming the Board makes decisions on those technical issues and is ready to proceed to balloting, the staff expects the final Accounting Standards Update to be issued no earlier than February 2015.