FASB: Consensus on three issues

FASB: Consensus on three issues

The FASB’s Emerging Issues Task Force (EITF) reached a final consensus on three issues at its November 2015 meeting:

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  • Recognition of breakage for certain prepaid stored-value cards
  • Effect of derivative contract novations on existing hedge accounting relationships
  • Contingent put and call options in debt instruments

The EITF also reached a consensus-for-exposure on most aspects of one issue: Statement of cash flows: classification of certain cash receipts and cash payments.

The FASB is scheduled to consider these decisions at its December 2, 2015 meeting.


Read a November 2015 report prepared by KPMG LLP: Defining Issues: EITF Reaches Final Consensus on Three Issues

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