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.
May 1, 2013 FASB Board MeetingAgenda decision: EITF issues. The Board decided to add the following issues to the EITF agenda:
- Determination of Whether a Performance Condition That Is Allowed to Be Met after the Requisite Service Has Been Provided by the Employee Is a Vesting Condition or a Nonvesting Condition
- Reclassification of Collateralized Mortgage Loans upon a Troubled Debt Restructuring and Accounting for the Effect of a Federal Housing Administration Guarantee.
Agenda decision: Private Company Council projects. The Board decided to add to its technical agenda a standing project with the following objectives: (1) to monitor and consider Private Company Council (PCC) proposed and final alternatives for private companies within U.S. GAAP, in accordance with the endorsement process, and (2) to determine whether PCC proposed and final alternatives are appropriate for public companies, not-for-profit organizations, and employee benefit plans.
Not-for-profit financial reporting: other financial communications. The Board discussed the results of the research performed to date on existing other financial communication frameworks (e.g., GASB Statement No. 34, Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments) and financial communications in the not-for-profit sector today. The Board decided to issue a Discussion Paper to solicit input from the not-for-profit sector; the feedback would be used in assisting the Board when making a decision of whether to add this project to its standard-setting agenda. The Board decided that the issuance date should coincide with the issuance date of the Exposure Draft on the Not-for-Profit Financial Reporting: Financial Statements project. The Board noted that this would bring more attention to the Discussion Paper as well as provide a better basis for stakeholders to provide input. Based on the current technical plan, the Discussion Paper would be issued in the fourth quarter of 2013.