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.

June 18, 2013 Joint FASB/IASB Videoconference Board Meeting

Accounting for Financial Instruments: Classification and Measurement. The FASB and the IASB continued discussing feedback received on their respective proposals on the classification and measurement of financial instruments. The meeting was informational and the Boards made no decisions. In particular, the Boards discussed:
  1. Feedback provided by users of financial statements on the IASB’s Exposure Draft
  2. A summary of comment letters and feedback provided through other FASB outreach on the February 2013 proposed Accounting Standards Update, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, and the April 2013 Exposure Draft, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities—Proposed Amendments to the FASB Accounting Standards Codification®. A summary of the comments received is available on the FASB website.
At future joint meetings, the staff will present a more detailed analysis of specific issues, starting with the contractual cash flow characteristics assessment for classifying financial assets. The FASB and the IASB will begin joint redeliberations in July 2013.