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.

Wednesday, March 14, 2018 FASB Board Meeting

Disclosures by business entities about government assistance. The Board discussed the proposed amendments and prior decisions made during redeliberations on the proposed Accounting Standards Update, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. No decisions were made.


Disclosure framework: disclosure review—defined benefit plans. The Board completed redeliberations of the proposed Accounting Standards Update, Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Changes to the Disclosure Requirements for Defined Benefit Plans. The Board made the following decisions:
 
Removal of the Disclosure of the Effect of a One-Percentage-Point Change in the Assumed Health Care Cost Trend Rates

The Board confirmed its decision to remove the disclosure of the effect of a one-percentage-point increase and the effect of a one-percentage-point decrease in the assumed health care cost trend rates for public entities.
 
Clarification of the Disclosure about Aggregate Information for Underfunded Pension Plans

The Board decided to retain the existing requirement in paragraph 715-20-50-3 with clarification that the disclosure about aggregate information for underfunded (including unfunded) pension plans should be based on both the projected benefit obligation (PBO) and the accumulated benefit obligation (ABO) benchmarks.
 
Effective Date and Early Adoption

The Board decided that the effective date will be fiscal years ending after December 15, 2020, for public business entities and December 15, 2021, for all other entities. Early adoption is permitted. The effective date would be expressed as “fiscal years ending after” because no amendments are made to the interim disclosure requirements included in Subtopic 715-20.   
 
Cost and Benefits

The Board decided that the expected benefits justify the expected costs of the changes and directed the staff to draft an Accounting Standards Update for vote by written ballot.