Current Technical Plan and Project Updates
The FASB provides the following schedule to help its constituents monitor the progress of and plan for their involvement in the Board’s standard setting activities. The schedule provides a current estimate of the publication dates of due process documents expected to be issued through 2011; that is, Discussion Papers (DPs), Exposure Drafts (Es), and Final Accounting Standards Updates or Final Conceptual Framework chapters (Fs). It also indicates the comment periods that will close in the next 6 quarters (C) and any roundtable discussions planned during that time period (R). The FASB undertakes its work following established due process procedures which include extensive consultation with interested parties before reaching conclusions. Therefore, all of the information of this schedule is subject to change depending on input received throughout a project’s development.
The Board recognizes that the work plan anticipates the completion of many projects in the 2010 and 2011 timeframe. The Board will consider staggering effective dates of those standards to ensure the orderly transition to any new requirements.
Also provided on the schedule are links to staff prepared summaries of Board decisions that are provided for information purposes only. The decisions are tentative and do not change current accounting. Official positions of the FASB are determined only after extensive due process and deliberations.
| 2009 | 2010 | 2011 | |||
| JOINT FASB/IASB PROJECTS: |
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| Conceptual Framework Project: (Updated as of September 3, 2009)
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F |
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| 2009 | 2010 | 2011 | |||
| Standards Projects: |
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| Reporting Discontinued Operations (Updated November 18, 2009) |
F |
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| Accounting for Financial Instruments (Updated November 17, 2009) |
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| Fair Value Measurement | |||||
| Statement of Comprehensive Income (Updated November 17, 2009) |
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| Consolidations: Policy and Procedures (Updated November 13, 2009) |
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| Emissions Trading Schemes (Updated October 30, 2009) |
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| Financial Instruments with Characteristics of Equity (Updated October 30, 2009) |
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| Financial Statement Presentation (Updated November 3, 2009) |
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| Insurance Contracts (Updated November 6, 2009) |
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| Leases (Updated November 17, 2009) |
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| Revenue Recognition (Updated November 10, 2009) |
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| Earnings per Share (not active) (Updated May 7, 2009) |
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| Income Taxes (not active) (Updated November 6, 2009) |
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| Postretirement Benefit Obligations including Pensions (Phase 2) (not active) (Updated January 21, 2009) |
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Research Projects: |
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| Financial Instruments: Derecognition (Updated May 1, 2009) |
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| 2009 | 2010 | 2011 | |||
| FASB PROJECTS: |
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| Credit Crisis Projects: | |||||
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FAS 157—Improving Disclosures about Fair Value Measurements
(Updated September 28, 2009) |
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Embedded Credit Derivatives Scope Exception
(Updated October 20, 2009) |
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| Oil and Gas Disclosures (Updated November 10, 2009) |
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| Reconsideration of the Scope of FAS 160 (Updated September 15, 2009) |
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| Technical Corrections to FASB Statements and Other U.S. GAAP Literature (Updated August 21, 2009) |
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| FAS167 Implementation (Added to agenda on 11/4/09.) |
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| Subsequent Events Implementation (Added to agenda on 11/4/09.) |
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| Disclosure of Certain Loss Contingencies (Updated October 14, 2009) |
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| Disclosures about Credit Quality and the Allowance for Credit Losses (Updated October 16, 2009) |
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| Going Concern (Updated October 21, 2009) |
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| Disclosure Framework (Updated August 3, 2009) |
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| 2009 | 2010 | 2011 | |||
| FASB EMERGING ISSUES TASK FORCE PROJECTS: |
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| Accounting for Stock Dividends, Including Distributions to Shareholders with Components of Stock and Cash (09-E) | F | ||||
| Research and Development Assets Acquired in an Asset Acquisition (09-2) | F | ||||
| Accounting for Casino Jackpots (09-F) | E | F | |||
| Clarification of the Definition of Deferred Acquisition Costs of Insurance Entities (09-G) | E | F | |||
| Accounting for a Loan Modification When the Loan Is Accounted for under the Aggregate Pool Method in Subtopic 310-30 (09-I) | E | F | |||
| Impact of Denominating the Exercise Price of a Share-Based Payment Award in the Currency of the Market in which the Underlying Equity Security Primarily Trades (09-J) | E | F | |||
| Consideration of an Insurer's Accounting for Majority-Owned Investments When the Ownership Is through a Separate Account (09-B) | F | ||||
| Milestone Method of Revenue Recognition (08-9) | E | F | |||
| Application of the AICPA Audit and Accounting Guide, Investment Companies, by Real Estate Investment Companies (09-D) | E | F | |||
| Accounting by Healthcare Organizations (Presentation of Insurance Claims and Related Insurance Recoveries; Revenue Recognition; and Measuring Charity Care for Disclosure) (09-H) | E | F | |||
| OTHER TECHNICAL ACTIVITIES | ||||
| XBRL (Updated August 4, 2009) |
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Codes: |
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| C – Comment Deadline DP – Discussion Paper E – Exposure Draft F – Final Document R – Roundtable Discussion |