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.
September 11, 2013 FASB Board Meeting
Development Stage Entities. The Board directed the staff to draft a proposed Accounting Standards Update that would supersede all of the incremental presentation and disclosure requirements for development stage entities that are currently required by Topic 915, Development Stage Entities. The Board tentatively decided that the proposed Update would be applicable to financial statements issued after the effective date, with the option of early adoption. The proposed Update will have a minimum 45-day comment period.
Consolidation—Policy and Procedures. The Board discussed a plan for redeliberation of the 2011 proposed Accounting Standards Update, Consolidation (Topic 810): Principal versus Agent Analysis. The Board estimates a final Update will be issued in the second half of 2014. No technical decisions were made.