The Accounting Policy & Practice Report ® provides financial accounting policy makers, advisors, and practitioners with the latest news, expert insights, and guidance on emerging, evolving, and complex accounting issues. Expert News & Commentary.
Jan. 14 —
Financial Accounting Standards Board voted 4-3 to advance toward issuing
what board members acknowledged as relatively modest changes to how
banks and other companies classify and measure financial assets and
The planned standard that FASB hopes to issue in the middle of this year would be a substantial pullback from the board's 2010 and 2013 proposals, board members said Jan. 14 at their weekly meeting.
Investors favored the exposure draft of five years ago—partly because it proposed more extensive use of fair value-based measurements. Bankers strongly opposed the 2010 proposal, especially for its mark-to-market treatment of loans in balance sheet reporting (06 APPR 400, 6/11/10).
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