Project Information Page
Last updated on March 25, 2015. Please refer to the Current Technical Plan for information about the expected release dates of exposure documents and final standards.
(Updated sections are indicated with an asterisk *)
The staff has prepared this summary of Board decisions for information purposes only. Those Board decisions are tentative and do not change current accounting. Official positions of the FASB are determined only after extensive due process and deliberations. Please refer to the main Conceptual Framework project page for additional information related to the project.
*Decisions Reached at the Last Meeting (March 18, 2015)The Board discussed a concept for determining initial carrying amounts of assets and liabilities. No decisions were reached.
Tentative Board Decisions Reached to DateThe Board discussed how to proceed with developing concepts related to measurement, including:
- Agreeing on the meanings of key terms and what the objectives and qualitative characteristics imply for measurement
- Identifying appropriate types of measurements
- Determining which measurements to use in specific circumstances.
- Prices in transactions in which the entity participated
- Current prices observed or estimated by the entity
- Discounted or undiscounted estimates of future cash flows other than estimates of market prices
- Other adjustments to carrying amount: accruals, systematic allocations, and allowances for impairments.
*BOARD/OTHER PUBLIC MEETING DatesThe FASB meeting minutes are provided for the information and convenience of constituents who want to follow the Boards’ deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions become final only after a formal written ballot to issue a final Accounting Standards Update.
|*March 18, 2015||Board Meeting—The Board discussed a concept for determining initial carrying amounts of assets and liabilities. No decisions were reached.|
|February 18, 2015||Board Meeting—The Board continued its deliberations, discussing different methods of determining carrying amounts and changes in carrying amounts. The Board decided that certain categories of methods should be discussed in the proposed Concepts Statement chapter on measurement.|
|November 19, 2014||Board Meeting—The Board discussed a process for establishing standards for determining changes in carrying amounts (remeasurements or subsequent measurements).|
|June 18, 2014||Board Meeting—The Board discussed how to proceed with the conceptual framework project|
Please refer to the measurement, presentation, and disclosure project pages for current Board meeting minutes related to each of those topics within the broader Conceptual Framework project.
*Next StepsThe next step of the project is yet to be determined.
Postgraduate Technical Assistant