Project Pages

Implementation Guidance—Update

Project Description: The objective of this project is to update implementation guidance for additional issues that come to the attention of the staff. In addition, this project will result in issuance of an annual update to the Comprehensive Implementation Guide.


Implementation Guide No. 2015-1 cleared for Issuance: June 2015
Added to Current Agenda: July 2015

Implementation Guidance—Update—Project Plan

Background: In June 2015, the Board cleared for issuance Implementation Guide No. 2015-1. That guide is the first issued as Category B literature in the hierarchy of generally accepted accounting principles (GAAP) established by Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles. Implementation guidance is updated annually through the addition of new questions and answers, which is incorporated into the Comprehensive Implementation Guide.

Project History:
  • Implementation Guide No. 2015-1 cleared for issuance: June 2015
  • Project added to current technical agenda: July 2015

Current Developments: Staff continued work on developing material to be considered by the Board for inclusion in an Exposure Draft of an update to implementation guidance.

Work Plan

Board Meetings   Topics to be Considered
October–December 2015:   Comment period (60 days).
January 2016:   Redeliberate issues based on respondent feedback.
February 2016:   Review preballot draft of final Implementation Guide.
February 2016 (T/C):   Review ballot draft and clear final Implementation Guide.
June 2016:   Publish update to Comprehensive Implementation Guide.

Implementation Guidance—Update—Recent Minutes

Minutes of Teleconference, September 21, 2015

The Board began deliberations by reviewing the ballot draft of the Exposure Draft, Implementation Guide No. 20XX-XX, Implementation Guidance Update—20XX. The Board provided suggestions to clarify the content of materials. After discussing those suggested clarifications, the Exposure Draft was cleared for issuance. No Board member objected to the issuance of the Exposure Draft.

Minutes of Meetings, September 1-3, 2015

The Board evaluated new questions to be incorporated into the Exposure Draft, Implementation Guide No. 20XX-XX, Implementation Guidance Update—20XX. The Board also considered revisions to questions included in Implementation Guide No. 2015-01. The new and revised questions either were proposed by respondents who provided feedback during the comment period for the Exposure Draft, Implementation Guide 2015-1, or were identified through internal review. The Board tentatively agreed that the new and revised questions should be included in the Exposure Draft, Implementation Guide 20XX-XX.

The Board also considered the removal of questions that were included in Implementation Guide 2015-01. The Board tentatively agreed that these questions, which were identified through internal review, should be removed through the codification instructions in the Exposure Draft.

Finally, the Board reviewed a preballot draft of the Implementation Guide, Implementation Guide No. 20XX-X, Implementation Guidance Update—20XX, and provided clarifying edits and comments. The Board will review a ballot draft of the Implementation Guide at the September teleconference.

Minutes Archive

Implementation Guidance—Update—Tentative Board Decisions