FASB Announces Topics for September 3rd Board Meeting
Prepping for its board meeting Wednesday, the Financial Accounting Standards Board (“FASB”) has announced the three topics it will cover:
- Financial instruments—impairment. FASB will continue to discuss Proposed Accounting Standards Update, Financial Instruments—Credit Losses (Subtopic 825-15). The discussion will focus on write-off guidance and clarifying the term which an entity should estimate its projected credit losses for financial instruments.
- Disclosure framework: disclosure review—fair value measurement. FASB plans to cover application to fair value disclosures of the concepts in the proposed FASB Concepts Statement, Conceptual Framework for Financial Reporting—Chapter 8: Notes to Financial Statements. While no decisions are anticipated from the discussion, prospective changes to current disclosures on fair value measurements that are acknowledged will receive further attention at a future meeting.
- Open discussion. Matters on technical projects or administrative matters may be covered, if necessary.
The meeting is scheduled to start at 9:00 a.m. EST. For more information, visit the FASB website.