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, September 18, 2019 FASB Board Meeting
Agenda prioritization. The Board discussed the results of staff research on four potential projects related to six recent agenda requests.
- Acquired financial assets in a business combination that do not meet the definition of purchased financial assets with credit deterioration
- Recognition and measurement of interest income.
Financial instruments—credit losses implementation. The Board discussed a summary of comments received on its June 2019 proposed Accounting Standards Update, Codification Improvements to Topic 326, Financial Instruments—Credit Losses.
The Board affirmed its decision related to the following issues:
- Negative allowances for purchased financial assets with credit deterioration
- Negative allowances for available-for-sale debt securities
- Transition relief for troubled debt restructurings
- Disclosures related to accrued interest receivables
- Financial assets secured by collateral maintenance provisions
- Conforming amendments to Subtopic 805-20, Business Combinations—Identifiable Assets and Liabilities, and Any Noncontrolling Interest.
The Board affirmed its decision related to the effective date and transition requirements.
Analysis of Costs and Benefits
The Board concluded that it has received sufficient information and analysis to make an informed decision on the topics presented and that the expected benefits of the amendments would justify the expected costs.
The Board directed the staff to draft a final Accounting Standards Update for vote by written ballot.
Disclosure framework: disclosures—interim reporting. The Board decided to add a high-level principle to Topic 270, Interim Reporting, for interim disclosure based on the removed portion of SEC Regulation S-X, Rule 10-01, Interim Financial Statements.