Recap of FASB October 5 Meeting
At its October 5 meeting, the Financial Accounting Standards Board (“FASB”) ratified the September 22 consensus reached on the following Emerging Issues Task Force (“EITF”) Issue: Issue No. 16-A, “Restricted Cash” In addition, the FASB ratified the consensus-for-exposure on the following EITF Issue: Issue No. 16-C, “Determining the Customer of the Operation Services in a Service Concession Arrangement” Separately, the FASB reached decisions on Topic 718, Compensation–Stock Compensation. The FASB agreed that if a change to the stock compensation award does not impact the overall current fair value, vesting requirements or classification, then entities are not required to apply modification accounting under. Read More.