Project Updates

Certain Costs and Activities Related to Property, Plant, and Equipment

Last Updated: April 22, 2004

The staff has prepared this summary of Board decisions for information purposes only. Those Board decisions are tentative and do not change current accounting. Official positions of the FASB are determined only after extensive due process and deliberations.

Objective(s)
Decisions Reached at the Last Meeting
Immediate Plans
Board Meetings/Other Public Meeting Dates

Objective(s)

The objective of this project had been to develop an accounting framework for property, plant, and equipment, including guidance for both the capitalization of costs and the unit of accounting. This project would have amended certain APB Opinions and FASB Statements to incorporate changes that would have resulted from the final issuance of the proposed AICPA Statement of Position (SOP), Accounting for Certain Costs and Activities Related to Property, Plant, and Equipment.

Decisions Reached at the Last Meeting

On April 14, 2004, the Board objected to final clearance of the proposed AICPA Statement of Position, Accounting for Certain Costs and Activities Related to Property, Plant, and Equipment.  The Board asked the AICPA Accounting Standards Executive Committee to discontinue work on the project.  The Board removed the project from its agenda and no further Board discussion is planned.  The Board asked the FASB staff to consider whether portions of the draft SOP should be issued as a FASB Staff Position(s).

Immediate Plans

No further Board discussion on this project is planned. The staff will consider whether portions of the draft SOP should be issued as a FASB Staff Position(s).

Board Meetings/Other Public Meeting Dates

The following are links to the minutes for each meeting.

April 14, 2004 Board Meeting
February 26, 2003 Board Meeting