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.
April 4, 2014 FASB Board MeetingAccounting for Financial Instruments: Classification and Measurement. The Board continued redeliberating the proposed Accounting Standards Update, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, and decided to retain the fair value option in existing U.S. GAAP under Topic 825, Financial Instruments.
The Board will revisit its decision after it discusses the treatment of an entity’s own credit for financial liabilities measured at fair value through net income.
Investment Companies: Disclosures about Investments in Another Investment Company. The Board discussed the path forward on the project in light of concerns raised by external reviewers on a draft of the proposed FASB Accounting Standards Update, Financial Services—Investment Companies (Topic 946): Disclosures about Investments in Other Investment Companies.
The Board decided not to require disclosure of information about investments in another investment company.
The Board will determine at a future meeting whether to issue a proposed Update on the following remaining tentative decisions:
- A feeder fund should attach the master fund’s financial statements along with its financial statements.
- All investments companies (regulated and nonregulated) should disclose each investment owned by an investee fund that exceeds 5 percent of the reporting investment company’s net assets at the reporting date.
Disclosure Framework: Entity’s Decision Process. The Board discussed (1) results from the field study that was conducted to better understand the use of discretion in notes to financial statements and (2) next steps based on the field study findings.
The Board made no technical decisions.