FASB
All decisions reached at Board meetings are tentative and
may be changed at future meetings. Decisions are included in an
Exposure Draft only after a formal written ballot. Decisions
reflected in Exposure Drafts are often changed in redeliberations
by the Board based on information received in comment letters, at
public roundtable discussions, and from other sources. Board
decisions become final after a formal written ballot to issue a
final Accounting Standards Update.
Board proposes improvements to accounting for repurchase
agreements
The FASB recently issued
proposed Accounting Standards Update (ASU), Effective
Control for Transfers with Forward Agreements to Repurchase Assets
and Accounting for Repurchase Financings, to clarify the
difference between sales and secured borrowings of financial assets
in a repurchase agreement. The proposed changes are expected to
better reflect the transferor's obligations and risks under
these transactions.
