AccountingLink

    EITF

    Summary
    The mission of the Emerging Issues Task Force (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 Accounting Standards Codification.

    EITF Update
    EITF final meeting minutes
    EITF issue summaries and agenda reports

    EITF Update

    21 March 2017

    EITF Update - March 2017
    The EITF reached a final consensus on determining the customer of the operation services in a service concession arrangement.

    21 November 2016

    EITF Update - November 2016
    The EITF reached a final consensus on employee benefit plan master trust reporting.

    23 September 2016

    EITF Update - September 2016
    The EITF reached a final consensus on restricted cash. The EITF also reached a consensus-for-exposure on accounting for service concession arrangements.

    14 June 2016

    EITF Update - June 2016
    The EITF reached a final consensus on classification of certain cash receipts and cash payments. The EITF also reached a consensus-for-exposure on employee benefit plan master trust reporting.

    3 March 2016

    EITF Update - March 2016
    The EITF reached a consensus-for-exposure on restricted cash (previously included in EITF Issue No. 15-F, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments).

    13 November 2015

    EITF Update - November 2015
    The EITF reached final consensuses on recognition of breakage for prepaid stored-value products, effect of derivative contract novations on existing hedge accounting relationships and contingent put and call options in debt instruments. The EITF also reached a consensus-for-exposure on the classification of certain cash receipts and cash payments on the statement of cash flows. The EITF discussed but didn’t reach a consensus-for-exposure on the cash flow classification of restricted cash. It plans to discuss this topic at a later date.

    18 September 2015

    EITF Update - September 2015
    The EITF discussed but didn’t reach a final consensus or consensus-for-exposure on recognition of breakage for prepaid stored-value cards and statement of cash flows: classification of certain cash receipts and cash payments.

    EITF final meeting minutes

    22 August 2017

    July 2017 EITF meeting minutes
    At this meeting, the Emerging Issues Task Force (EITF) discussed Issue 17-A on a customer’s accounting for implementation costs incurred in a cloud computing arrangement that is considered a service contract but did not make any decisions.

    26 April 2017

    March 2017 EITF meeting minutes
    At this meeting, the Emerging Issues Task Force (EITF) reached a final consensus on determining the customer of the operation services in a service concession arrangement.

    23 December 2016

    November 2016 EITF meeting minutes
    At this meeting, the Emerging Issues Task Force (EITF) reached a final consensus on employee benefit plan master trust reporting.

    27 October 2016

    September 2016 EITF meeting minutes
    At this meeting, the Emerging Issues Task Force (EITF) reached a final consensus on restricted cash. The EITF also reached a consensus-for-exposure on accounting for service concession arrangements.

    22 July 2016

    June 2016 EITF meeting minutes
    At this meeting, the Emerging Issues Task Force (EITF) reached a final consensus on classification of certain cash receipts and cash payments. The EITF also reached a consensus-for-exposure on employee benefit plan master trust reporting.

    22 April 2016

    March 2016 EITF meeting minutes
    At this meeting, the Emerging Issues Task Force (EITF) reached a consensus-for-exposure on restricted cash (previously included in EITF Issue No. 15-F, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments).

    15 January 2016

    November 2015 EITF meeting minutes
    At this meeting, the The Emerging Issues Task Force (EITF) reached final consensuses on recognition of breakage for prepaid stored-value products, effect of derivative contract novations on existing hedge accounting relationships and contingent put and call options in debt instruments. The EITF also reached a consensus-for-exposure on the classification of certain cash receipts and cash payments on the statement of cash flows. The EITF discussed but didn’t reach a consensus-for-exposure on the cash flow classification of restricted cash. It plans to discuss this topic at a later date.

    EITF issue summaries and agenda reports

    7 July 2017

    Issue No 17-A: Customer’s accounting for implementation, setup, and other upfront costs (implementation costs) incurred in a cloud computing arrangement that is considered a service contract
    This issue discusses the accounting for implementation costs incurred in a cloud computing arrangement (CCA) that is considered a service contract.

    12 September 2016

    Issue 16-C: Accounting for service concession arrangements
    This issue discusses various accounting issues to address how to determine the customer of the operation services in a service concession arrangement within the scope of Topic 853. Supplement 1 (pdf, 576.9kb)  (2 March 2017)

    27 May 2016

    Issue 16-B: Employee benefit plan master trust reporting
    This issue discusses seven master trust issues in which diversity in practice has been identified or for which the guidance is limited. Supplement 1 (pdf, 811.2kb) (4 November 2016)

    18 February 2016

    Issue 16-A: Restricted cash
    This issue discusses restricted cash and the classification and presentation of changes in restricted cash in the statement of cash flows. Supplement 1 (pdf, 518.1kb) (8 September 2016)

    4 June 2015

    Issue 15-D: Effect of derivative contract novations on existing hedge accounting relationships
    This issue discusses how a novation of a derivative contract in a hedge accounting relationship does not, in and of itself, require dedesignation of that hedge accounting relationship. Supplement 1 (pdf, 228.7kb)  (3 September 2015)

    4 June 2015

    Issue 15-E: Contingent put and call options in debt instruments
    This issue discusses how an assessment of whether a contingent put or call option is clearly and closely related to the debt host requires only an analysis of the four-step decision sequence outlined in ASC 815-15-25-42. That is, an entity would not need to separately assess whether the contingent feature is indexed only to the interest rate or credit risk of the entity. Supplement 1 (pdf, 211.8kb)  (29 October 2015)

    4 June 2015

    Issue 15-F: Statement of cash flows: classification of certain cash receipts and cash payments
    This issue discusses how diversity in practice has been identified in the required interpretation to determine the appropriate classification of cash flows as operating, investing or financing. The issue is whether there can be guidance to reduce this diversity in practice. Supplement 1 (pdf, 800.6kb)  (3 September 2015), Supplement 2 (pdf, 567.2kb)  (29 October 2015), Supplement 3 (pdf, 558.5kb)  (29 October 2015), Supplment 4 (pdf, 789.6kb)  (27 May 2016)

    5 March 2015

    Issue 15-A: Application of the normal purchases and normal sales scope exception to certain electricity contracts within nodal energy markets
    This issue discusses whether certain contracts for the physical delivery of electricity on a forward basis within a nodal energy market should meet the physical delivery criterion of the normal purchases and normal sales (NPNS) scope exception to derivative accounting in Topic 815, Derivatives and Hedging. Supplement 1 (pdf, 345kb)  (4 June 2015)

    5 March 2015

    Issue 15-B: Recognition of breakage for prepaid stored-value cards
    This issue discusses how the liability that exists between a Card Issuer or Prepaid Network Provider and a Consumer prior to when a prepaid stored-value card is redeemed by the Consumer should be derecognized. Supplement 1 (pdf, 353.6kb)  (3 September 2015), Supplement 2 (pdf, 301.3kb)  (29 October 2015)

    5 March 2015

    Issue 15-C: Employee benefit plan simplifications
    This issue discusses how to consider certain disclosure and measurement simplifications for employee benefit plans. The accounting guidance for employee benefit plans is included in Topic 960, Plan Accounting - Defined Benefit Pension Plans; Topic 962, Plan Accounting - Defined Contribution Pension Plans; and Topic 965, Plan Accounting - Health and Welfare Benefit Plans. Supplement 1 (pdf, 585.4kb)  (4 June 2015)