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 - September 2014
PwC - 09/23/2014
The EITF met on September 18, 2014 to discuss four issues. PwC's EITF observer provides you an insightful summary of decisions reached and the changes affecting GAAP.

EITF observer: A meeting synopsis - June 2014
PwC - 06/16/2014
The EITF met on June 12, 2014 to discuss two 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 September 18, 2014, EITF Meeting
At its September 2014 meeting, the EITF reached final consensus on two issues affecting the recognition of a new accounting basis (pushdown) in certain circumstances and determining whether a host contract in a hybrid financial instrument issued in the form of a share is more akin to debt or equity. A consensus-for-exposure was reached on two other issues related to the fair value disclosure requirements for certain investments measured at net asset value and the computation of historical earnings per unit by a master limited partnership in periods prior to a drop-down transaction.

Final Minutes June 12, 2014, EITF Meeting
At its June 12 meeting, the EITF reached final consensuses on two issues affecting consolidated collateralized financing entities, and government-guaranteed real estate mortgage loans. Discussions also continued on an issue related to determining whether a host contract in a hybrid instrument issued in the form of a share is more akin to debt or equity.

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EITF issue summaries

Issue 14-A: "Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions"
EITF - 9/4/2014

Issue 14-B: "Fair Value Hierarchy Levels for Certain Investments Measured at Net Asset Value"
EITF - 9/4/2014

Issue 13-G: "Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity"
EITF - 9/4/2014

Issue 12-F: "Pushdown Accounting"
EITF - 9/11/2014

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