Current Technical Plan and Project Updates

The FASB prepares a project plan to communicate information about its standards-setting activities to stakeholders. The project plan lists all agenda projects and includes:

  • Estimated publication dates through 2012 (Discussion Papers (D), Exposure Drafts (Es), and Final Accounting Standards Updates or Final Conceptual Framework chapters (Fs).)
  • Comment periods expected to close in the next 5 quarters (indicated by a C)
  • Roundtable meetings or other public forums planned (indicated by an R)
The FASB sets standards following established due process procedures that include extensive consultation. This project plan is subject to change as a result of those consultations or for other reasons.

The project plan includes links to staff prepared project summaries that describe Board decisions and provide other information. The decisions are tentative and do not change current accounting. Official positions of the FASB are determined only after extensive due process and deliberations.

Current Technical Plan 2011 2012
ACTIVE JOINT FASB/IASB PROJECTS:
4Q
1H
 2H
Standards Projects:      
Consolidation: Policy and Procedures
(Exposure Draft issued 11/03/11. Updated December 13, 2011)

C
  
Revenue Recognition
(Exposure Drafts issued 11/14/11 and 01/04/12. Updated January 6, 2012)

C
  
Insurance Contracts 
(Updated December 21, 2011)

E
Leases 
(Updated December 23, 2011)
  E
  
Investment Companies 
(Exposure Draft issued 10/21/11. Updated January 31, 2012)
 
 C,R
Accounting for Financial Instruments
(Updated December 1, 2011)
 		    
 
 
 
 
      Hedging 
      (Updated December 1, 2011)
   
  
INACTIVE JOINT FASB/IASB PROJECTS:       
  2011 2012
FASB PROJECTS:
4Q
1H
 2H
Codification Technical Corrections (including Certain Amendments to Various Codification Topics to Conform Terminology to Topic 820) 
(Exposure Draft issued 10/14/11. Updated October 19, 2011)

F
Disclosures about Risks and Uncertainties and the Liquidation Basis of Accounting (Formerly Going Concern) 
(Updated January 20, 2012)
 
E
Impairment of Indefinite-Lived Intangible Assets 
(Exposure Draft issued 01/25/12. Updated January 25, 2012)
  C
Disclosure Framework 
(Updated November 10, 2011)
  D
Investment Property Entities
(Exposure Draft issued 10/21/11. Updated January 19, 2012)

C,R
Disclosure of Certain Loss Contingencies
(Updated October 24, 2011)

   
 
Nonpublic Entity Fair Value Measurement Disclosures 
(Added to agenda 11/22/11. Updated November 29, 2011)

 E  
 
Not-for-Profit Financial Reporting: Financial Statements 
(Added to agenda 11/09/11. Updated November 11, 2011)

   
     Presentation of Comprehensive Income: Reclassifications Out of Accumulated Other Comprehensive Income 
(Updated January 5, 2012)

   
  2011 2012
FASB RESEARCH PROJECTS:
4Q
1H
2H
     Application of Asset- or Entity-Based Guidance to Nonfinancial Assets Held in an Entity
(Added to agenda 11/30/11)


 
Decision-Making Framework for Private Companies2
(Updated October 18, 2011)


 
Not-for-Profit Financial Reporting: Other Financial Communications 
(Added to agenda 11/09/11. Updated November 11, 2011)


 
  2011 2012
FASB EMERGING ISSUES TASK FORCE PROJECTS:
4Q
1H
2H
Parent’s Accounting for the Cumulative Translation Adjustment upon the Sale or Transfer of a Group of Assets That Is a Nonprofit Activity or a Business within a Consolidated Foreign Entity (11-A)
(Exposure Draft issued 12/08/11)
   C  
Accounting for Multiple Foreign Currency Exchange Rates (10-B) (Inactive Issue)
      

____________________

1The FASB is continuing to redeliberate the issues in this project and once those redeliberations are completed, the Board will decide whether to reexpose those decisions for public comment. At a minimum, however, before issuing the final document, the FASB intends to expose for public comment the proposed amendments to the FASB Accounting Standards Codification® (as required by the FASB’s Rules of Procedure).
2The timing of the Discussion Paper will be coordinated with the outcome of the FAF's Plan to Establish the Private Company Standards Improvement Council (PCSIC). The comment letter period on that plan ends January 14, 2012.

 
 

Codes:
 
C – Comment Deadline  
D – Discussion Paper  
E – Exposure Draft 
F – Final Document 
R – Roundtable Discussion

 

Additional Details