At its June 11, 2013 meeting, the FASB’s Emerging Issues Task Force (EITF) finalized consensuses on issues affecting interest rate hedges and uncertain tax benefits. It also reached consensuses-for-exposure on issues affecting collateralized financing entities, service concession arrangements, and collateralized mortgage loans. Discussions also began on an issue involving share-based awards with performance targets.
If the final consensuses are ratified by the FASB at its June 26, 2013 meeting, those decisions will amend current US GAAP, and the changes may be adopted as early as 2013.
This edition of EITF observer provides a synopsis of the discussions and decisions reached at the June 11 EITF meeting.