Tentative Board Decisions

Tentative Board decisions are provided for those interested in following the Board’s deliberations. All of the reported decisions are tentative and may be changed at future Board meetings.

Wednesday, October 6, 2021 FASB Board Meeting

Recognition and measurement of revenue contracts with customers under Topic 805. The Board discussed a sweep issue that was identified during the drafting of final Accounting Standards Update, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The Board decided to remove the practical expedient related to completed contracts with remaining variable consideration from the final Update.