Conclusions from EITF’s June 10th Meeting
The following are the conclusions reached at last week’s Emerging Issues Task Force (“EITF”) meeting:
- Final Consensus: 15-F, “Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments.”
- Consensus-for-Exposure: 16-B, “Employee Benefit Plan Master Trust Reporting.”
The Financial Accounting Standards Board (“FASB”) will likely discuss these conclusions at a meeting later this month. If the consensus-for-exposure receives FASB approval, it will be issued for comment. If the final consensus receives FASB approval, it will become authoritative upon its inclusion in the FASB Codification.
The EITF’s next meeting is scheduled for Thursday, July 21.