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ARTICLE · 07 JUNE 2013

On the Horizon - May 28, 2013

Grant Thornton LLP
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The FASB met on May 23 to discuss its projects on revenue recognition, insurance contracts, and repurchase agreements and similar transactions.

United StatesAccounting and Audit
Grant Thornton'S Audit Practice Group
Grant Thornton'S Audit Practice Group
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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.

Meetings held May 23 and 24

The FASB met on May 23 to discuss its projects on revenue recognition, insurance contracts, and repurchase agreements and similar transactions, which are summarized below.

In addition, the FASB and the IASB held a joint meeting on May 24 to discuss their projects on revenue recognition and on the classification and measurement of financial instruments. The Boards did not reach any tentative decisions on their financial instruments classification and measurement

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