FASB Task Force Meeting to Vote on U.S. GAAP Amendments
When the Financial Accounting Standards Board’s (“FASB”) Emerging Issues Task Force (“the Task Force”; “EITF”) meets next week, the group plans to vote on two proposed amendments to U.S. GAAP. The amendments to be voted on are: Proposed Accounting Standards Update (ASU) No. EITF-13G, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus of the FASB Emerging Issues Task Force); and Proposed ASU No. EITF-12F, Business Combinations (Topic 805): Pushdown Accounting (a consensus of the FASB Emerging. Read More.