FASB Announces Itinerary for Wednesday’s Meeting
Scheduled for Wednesday, the Financial Accounting Standards Board (“FASB”) meeting will cover four topics essential to the standard-setter’s ongoing efforts:
1. Agenda prioritization. FASB plans to review staff research and analysis from a number of prospective projects and which ones will be added to its agenda.
2. Financial instruments—impairment. Discussions will continue on FASB’s Proposed Accounting Standards Update, Financial Instruments-Credit Losses. In particular, the conversation will focus on impairment guidance for debt securities and clarifying the measurement principle in the Current Expected Credit Losses model.
3. Insurance—disclosures concerning short-duration contracts. Talks will continue on disclosures on short duration contracts, including disclosures regarding claims liabilities.
4. Open discussion. Matters on technical projects or administrative matters may be covered, if necessary.