FASB - Presentation and disclosures for financial instruments 

June 6:  The FASB, at a June 4 meeting, made decisions about presentation and disclosures for financial instruments as it continued redeliberations on its proposed standard on financial instrument classification and measurement (proposed ASU).

The FASB decided to require a public business entity to:

  • Present the fair value of its financial assets and financial liabilities that are measured at amortized cost either parenthetically in the statement of financial position or in the notes to the financial statements
  • Disclose all financial assets and financial liabilities grouped by both measurement category and form of financial assets

The FASB decided not to change existing requirements for:

  • How entities present financial assets and financial liabilities in the statement of financial position
  • The presentation of financial assets measured at amortized cost that are subsequently identified for sale
  • Disclosure of the difference between the aggregate fair value of any debt instruments reported at fair value through net income (FV-NI) and the aggregate unpaid principal balance of those debt instruments

Read a June 2014 report [PDF 655 KB] prepared by KPMG LLP: Defining Issues: FASB Makes Decisions on Presentation and Disclosures for Financial Instruments

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