FASB to Meet Twice This Week
According to its Notice of Open Meetings , the Financial Accounting Standards Board (“FASB”) is scheduled to hold the following meetings next week: Wednesday, June 1st: The FASB will meet to review the Proposed Accounting Standards Update, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, the proposed Concept Statement for presentation, and its project to improve the financial statements of nonprofits. If time permits, the meeting will conclude with an open discussion on minor issues concerning technical projects or administrative affairs. The meeting is scheduled to begin at 9:30 a.m. EST. Friday, June 3rd: The FASB Academic. Read More.
Fair Value Measurement Proposal Released
The Financial Accounting Standards Board (“FASB”) has unanimously approved the release of a proposal related to its disclosure framework project. Proposed Accounting Standards Update No. 2015-350, Fair Value Measurement (Topic 820): Disclosure Framework— Changes to the Disclosure Requirements for Fair Value Measurement, seeks to improve the footnote disclosure rules under Topic 820, Fair Value Measurement. The proposal calls for the elimination of requirements in Topic 820 considered redundant and no longer useful, as well as updates to other rules. As mentioned in our December 7th blog , the FASB also proposes the addition of three new disclosure requirements for public businesses: The changes. Read More.