Mar 24, 2014
From the Financial Reporting Network
The FASB and IASB met on March 18-19 and discussed:
Leases. The Boards continued redeliberations about their 2013 Exposure Drafts, specifically, the lessee accounting model, the lessor accounting model, lessee balance sheet presentation, small ticket leases, lease term, and short-term leases. See Defining Issues 14-17.
Insurance Contracts. The IASB continued redeliberations about its 2013 Exposure Draft, specifically, margin unlocking under the building-block approach, and using other comprehensive income for changes in fulfillment cash flows due to changes in discount rates. Members of the FASB and its staff participated in this discussion.