Project Update

Accounting for Financial Instruments (formerly Financial Instruments: Improvements to Recognition and Measurement and including the Accounting for Hedging Activities Project)—Joint Project of the IASB and FASB

Last updated on November 2, 2010

*Board/Other Public Meeting Dates—Prior

The Board meeting minutes 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 become final only after a formal written ballot to issue a final standard.

October 19, 2010 FASB Roundtable Meeting—Discussions about the proposed Accounting Standards Update
Session 1 
Session 2 
October 18, 2010 FASB Roundtable Meeting—Discussions about the proposed Accounting Standards Update
Session 1 
Session 2 
October 12, 2010 FASB Roundtable Meeting with Private Companies and Not-For-Profit Entities—Discussions about the proposed Accounting Standards Update
Board/Other Public Meetings Prior to the Issuance of the May 2010 Proposed Accounting Standards Update
May 11, 2010 Board Meeting—Decisions about scope issues related to certain physically settled forward purchase contracts
April 28, 2010 Board Meeting—Decisions about presentation of accumulated other comprehensive income, presentation of changes in fair value related to changes in an entity’s own credit standing, and the comment period for the proposed Update to be issued
March 31, 2010 Board Meeting —Decisions about interest income recognition, credit impairment, and disclosures
March 19, 2010 Board Meeting —Decisions about transition and scope issues related to Topic 815, contingencies, and guarantees
March 17, 2010 Board Meeting —Decisions about the amortized cost option for certain financial liabilities, classification and measurement of loan commitments, and specialized industries within the scope of the proposed Update to be issued
March 16, 2010 Education Session—Discussions about specialized industries within the scope of the proposed Update to be issued
March 15, 2010 Education Session—Discussions about the classification and measurement of loan commitments
March 10, 2010 Board Meeting—Decisions about the hedge accounting model to be included in the proposed Update to be issued
March 4, 2010 Education Session—Discussions about the hedge accounting model to be included in the proposed Update to be issued
March 3, 2010 Board Meeting—Decisions about short-term receivables and payables, investments in certain other investments, and deferred tax assets/liabilities
February 24, 2010 Education Session—Discussions about deferred tax assets/liabilities, short-term receivables/payables, and restricted stock
February 24, 2010 Board Meeting—Decisions about equity method investments, entities within the scope of the proposed Accounting Standards Update (Update) to be issued under this project, and financial liabilities
February 19, 2010 Education Session—Discussions about the classification and measurement of financial liabilities
February 17, 2010 Joint Board Meeting—Discussions about financial liabilities and decisions about hedging risk components (bifurcation-by-risk)
February 10, 2010 Joint Board Meeting—Discussions about financial liabilities
February 3, 2010 Education Session—Discussions about the classification and measurement of financial liabilities, entry value as a potential measurement attribute for financial instruments, and entities/industries within the scope of the Accounting Standards Update issued under this project.
February 2, 2010 Joint Board Meeting—Discussions about the objective of hedge accounting and hedging risk components (bifurcation-by-risk).
January 20, 2010 Joint Board Meeting—Discussions about financial liabilities
January 19, 2010 Joint Board Meeting—Discussions about the timeline for the hedge accounting phase of the project.
January 13, 2010 Board Meeting—Decision to clarify the credit impairment and interest income model for financial assets measured at fair value with changes in fair value recognized in other comprehensive income.
January 7, 2010 Education Session—Discussions about the impairment and interest income model for financial assets measured at fair value with changes in fair value recognized in other comprehensive income.
December 22, 2009 Education Session—Discussions about the impairment and interest income model for financial assets measured at fair value with changes in fair value recognized in other comprehensive income.
December 16, 2009 Joint Board Meeting—Discussions about hedge accounting, including feedback received from outreach performed by staff related to hedge accounting.
November 24, 2009 Board Meeting—Decision about the measurement attribute for core deposits and discussions about an amortized cost option for certain financial liabilities.
November 17, 2009 Education Session—Discussions about an amortized cost option for certain financial liabilities.
November 17, 2009 Board Meeting—Decision regarding the definition of amortized cost.
November 10, 2009 Education Session—Discussions about the measurement attribute for core deposits
November 4, 2009 Board Meeting—Additional decisions on initial measurement of financial instruments.
October 26, 2009 Joint Board Meeting—Discussions about presentation alternatives, impairment, and core principles related to the accounting for financial instruments.
October 21, 2009 Board Meeting—Decisions regarding a credit impairment model for financial assets measured at fair value with changes in fair value recognized in other comprehensive income.
October 14, 2009 Board Meeting—Decisions about recognition and initial measurement of financial instruments.
September 23, 2009 Board Meeting—Summary of feedback received through roundtable meetings and U.S. investor outreach and discussions about remeasurement approaches for the valuation of deposits.
September 16, 2009 Education Session—Discussions about the valuation of deposits.
September 14, 2009 Joint FASB/IASB Roundtable—Discussions about the IASB proposed model and FASB tentative model for accounting for financial instruments.
September 10, 2009 Joint FASB/IASB Roundtable (London)—Discussions about the IASB proposed model and FASB tentative model for accounting for financial instruments.
September 3, 2009 Joint FASB/IASB Roundtable (Tokyo)—Discussions about the IASB proposed model and FASB tentative model for accounting for financial instruments.
August 19, 2009 Board Meeting—Decisions regarding financial instruments within the scope of this project.
August 13, 2009 Education Session—Discussions about financial instruments within the scope of this project.
August 13, 2009 Board Meeting—Decisions regarding financial statement presentation alternatives for financial instruments.
August 5, 2009 Education Session—Discussions about the valuation of deposits and presentation alternatives for financial instruments.
July 29, 2009 Education Session—An external subject matter expert educated the Board and staff about the valuation of deposits.
July 24, 2009 Joint Board Meeting—Discussions about the tentative FASB model and proposed IASB model for financial instruments, including next steps.
July 15, 2009 Board Meeting—Decisions regarding categorization, measurement, and recognition methods of financial instruments
July 13, 2009 Education Session—Discussions about the classification and measurement of financial instruments.
July 9, 2009 Education Session—Summary of outreach and research performed and discussions about the classification and measurement of financial instruments.
June 24, 2009 Education Session—Discussions about amortized cost as a measurement method for financial instruments, various impairment models for financial instruments, and initial discussions about classification of financial instruments
June 17, 2009 Education Session—Discussions about measurement and presentation alternatives for financial instruments (Fair Value through OCI Dual Presentation Model)
June 3, 2009 Education Session—Discussions about the broad application of fair value measurement for financial instruments
May 6, 2009 Education Session—Discussions about another potential measurement method for financial instruments (Current Value Measurement Method)
March 24, 2009 Joint Board Meeting—Decisions on project objectives and discussion about potential measurement methods and characteristics for categorizing financial instruments
December 15, 2008 Board Meeting—Agenda Decision

 

 

Board Meetings related only to the prior Accounting for Hedging Activities project

April 30, 2008

Board Meeting – Board discusses final technical issues, effective date, and comment period

December 20, 2007

Board Meeting – Board discusses fair value approach to foreign currency hedges and instructs staff to draft an Exposure Draft for vote by written ballot

November 7, 2007

Board Meeting – Board discusses fair value approach to cash flow hedge accounting and possible exception to fair value approach for entity’s own debt

October 17, 2007

Board Meeting – Board discusses fair value approach to fair value hedge accounting

May 23, 2007

Board Meeting – Board adds hedging project to the agenda

January 31, 2007

Board Meeting – Board instructs staff to research accounting for hedging activities