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.
Disclosure Framework. The Board discussed the following topics and made decisions as noted below:
- Income Taxes—The Board discussed disclosures about undistributed foreign earnings and decided that changes to existing disclosure requirements, if any, would be exposed for public comment as part of the Disclosure Review—Income Taxes project.
- Interim Reporting—The Board continued redeliberations of the March 4, 2014 proposed FASB Concepts Statement, Conceptual Framework for Financial Reporting—Chapter 8: Notes to Financial Statements, focusing on interim reporting. As a next step in its redeliberations, the Board directed the staff to analyze how the proposed Concepts Statement would affect existing interim disclosures related to fair value measurement and revenue recognition in Topic 270.
- Inventory—The Board decided to exclude Topic 705, Cost of Sales and Services, in the scope of the inventory disclosure review. The Board directed the staff to begin pre-agenda research on a potential project related to disclosure requirements for Topic 705 and other Topics containing guidance on cost of sales or services when staff resources become available.