Perspectives

EITF Snapshot

Addresses and summarizes matters discussed at each Emerging Issues Task Force (EITF) meeting.

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EITF Snapshot | March 3, 2016

March 2016

This issue summarizes the topics discussed and the conclusions reached at the March 3, 2016, meeting of the Emerging Issues Task Force. Initial Task Force consensuses (“consensuses-for-exposure”) are exposed for public comment upon ratification by the Financial Accounting Standards Board (FASB). After the comment period, the Task Force considers comments received and redeliberates the issues at a scheduled meeting to reach a final consensus. Those final consensuses are then provided to the FASB for final ratification and, ultimately, issuance as an Accounting Standards Update (ASU).

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EITF Snapshot | November 12, 2015

November 2015

This issue summarizes the topics discussed and the conclusions reached at the November 12, 2015, meeting of the Emerging Issues Task Force. Topics discussed include (1) recognition of breakage for prepaid stored-value cards, (2) effect of derivative contract novations on existing hedge accounting relationships, (3) contingent put and call options in debt instruments, and (4) classification of certain cash receipts and cash payments in the Statement of Cash Flows.

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EITF Snapshot | June 18, 2015

June 2015

This issue summarizes the topics discussed and conclusions reached at the June 18, 2015, meeting of the Emerging Issues Task Force. Topics discussed include (1) application of the normal purchases and normal sales scope exception to certain electricity contracts, (2) employee benefit plan simplifications, (3) effect of derivative contract novations on existing hedge accounting relationships, (4) contingent put and call options in debt instruments, and (5) classification of certain cash receipts and cash payments.

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EITF Snapshot | March 19, 2015

March 2015

This issue summarizes the topics discussed and conclusions reached at the March 19, 2015, meeting of the Emerging Issues Task Force. Topics discussed include (1) the calculation of historical earnings per unit for dropdown master limited partnership transactions, (2) disclosures about investments in certain entities that calculate net asset value per share, (3) application of the normal purchases and normal sales scope exception to certain electricity contracts, (4) the recognition of breakage for prepaid stored-value cards, and (5) employee benefit plan simplifications.

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EITF Snapshot | September 18, 2014

September 2014

This issue summarizes the topics discussed and conclusions reached at the September 18, 2014, meeting of the Emerging Issues Task Force. Topics discussed include pushdown accounting, hybrid financial instruments, dropdown transactions related to master limited partnerships, and the fair value hierarchy.

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Robert Uhl

Partner | Deloitte & Touche LLP

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