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 the FASB Accounting Standards CodificationTM.

Recent Developments – Past 90 days



PwC's EITF observer

EITF observer: A meeting synopsis - June 2015
PwC - 06/22/2015
The EITF met on June 18, 2015 to discuss five issues. PwC's EITF observer provides you an insightful summary of decisions reached and the changes affecting GAAP.

EITF observer: A meeting synopsis - March 2015
PwC - 03/24/2015
The EITF met on March 19, 2015 to discuss five issues. 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 March 19, 2015, EITF Meeting
At its March 2015 meeting, the FASB’s Emerging Issues Task Force (EITF) reached final consensuses on two issues: (1) effects on historical earnings per unit of master limited partnership drop-down transactions and (2) disclosures for investments in certain entities that calculate net asset value per share (or its equivalent). The EITF also discussed and reached consensuses-for-exposure on three other issues: (1) application of the normal purchases and normal sales scope exception to certain electricity contracts within nodal energy markets, (2) recognition of breakage for prepaid stored-value cards, and (3) employee benefit plan simplifications.

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EITF issue summaries

Issue 15-A: "Application of the Normal Purchases and Normal Sales Scope Exception to Certain Electricity Contracts within Nodal Energy Markets"
EITF - 03/10/2015

Issue 15-B: "Recognition of Breakage for Prepaid Stored-Value Cards"
EITF - 03/10/2015

Issue 15-C: "Employee Benefit Plan Simplifications"
EITF - 03/10/2015

Issue 15-D: "Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships"
EITF - 06/11/2015

Issue 15-E: "Contingent Put and Call Options in Debt Instruments"
EITF - 06/11/2015

Issue 15-F: "Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments"
EITF - 06/11/2015

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