Summary of Board Decisions

Summary of Board decisions are provided for the information and convenience of constituents who want to follow the Board’s deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions are included in an Exposure Draft for formal comment only after a formal written ballot. Decisions in an Exposure Draft may be (and often are) changed in redeliberations based on information provided to the Board in comment letters, at public roundtable discussions, and through other communication channels. Decisions become final only after a formal written ballot to issue an Accounting Standards Update.

April 10, 2013 FASB Board Meeting

Leases. The Board discussed the effects of the decisions reached in the leases project on financial reporting complexity. The Board directed the staff to draft a proposed Accounting Standards Update for vote by written ballot.


Agenda decision: fair value measurement disclosures of private company employer securities held by employee benefit plans. The Board discussed whether to add a project to the FASB agenda to exempt or indefinitely defer for nonpublic employee benefits plans (plans other than those subject to the Form 11-K filing requirements of the Securities and Exchange Commission) the requirement to provide certain disclosures about the fair value of investments in private company equity securities of the plan sponsor. The Board made the following decisions:
  1. To add the project to the agenda.
  2. To expose for public comment a proposal to indefinitely defer the requirement that a nonpublic employee benefit plan disclose the quantitative fair value information required by paragraph 820-10-50-2(bbb) for investments in private company equity securities of the plan sponsor, regardless of what other private company equity securities are held by the nonpublic employee benefit plan.
  3. To provide a comment period extending through May 31, 2013.
The Board directed the staff to draft a proposed Accounting Standards Update for vote by written ballot.


Open discussion: private company decision-making framework. The Board decided that the comment period for the Private Company Decision-Making Framework should end on June 21, 2013. This comment period end date will give the staff time to provide the FASB and Private Company Council (PCC) members with a summary of comment letters before the July 16, 2013 Council meeting. At that meeting, the Board and PCC are expected to consider the need for changes to the Framework in light of the feedback received.