Emerging Issues Task Force (EITF)

Website: www.fasb.org

The mission of the EITF is to assist the FASB in improving financial reporting through the timely identification, discussion, and resolution of financial accounting issues within the framework of theFASB Accounting Standards CodificationTM.

Recent Developments – Past 90 days


PwC's EITF observer

EITF observer: A meeting synopsis - June 2016
PwC - 06/14/2016
The EITF met on June 10, 2016 to discuss two issues and reached a final consensus on one of them: Classification of certain cash receipts and cash payments in the statement of cash flows. PwC's EITF observer provides you an insightful summary of decisions reached and the changes affecting GAAP.

EITF observer: A meeting synopsis - March 2016
PwC - 03/18/2016
The EITF met on March 3, 2016 to discuss the presentation of restricted cash within the statement of cash flows and the related disclosures. PwC's EITF observer provides you an insightful summary of decisions reached and the changes affecting GAAP.

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EITF final meeting minutes

Final Minutes of June 10, 2016 EITF Meeting
At its June 2016 meeting, the EITF ratified the Task Force consensus on Issue 15-F and the consensusfor-exposure on Issue 16-B. The Accounting Standards Update and the proposed Update are expected to be posted to the FASB website within the next month.

Final Minutes March 3, 2016 EITF Meeting
At its March 2016 meeting, the EITF reached a consensus-for-exposure that restricted cash should be presented with cash and cash equivalents on the statement of cash flows. Entities would be required to reconcile amounts on the balance sheet to the statement of cash flows and disclose the nature of the restrictions.

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