FASB Proposals on OCI, Investment Cos, Investment Properties
FASB released two proposals for public comment last week relating to investment companies and investment properties, respectively, and voted to release a third proposal - likely in early November - to defer the effective date of certain provisions only, from Accounting Standards Update No. 2011-5 on Comprehensive Income. Read about the investment co/investment property proposals, on which comment is due Jan. 5,here.
Read about the proposal relating to ASU 2011-5, which would propose to defer the presentation of ‘reclassification adjustments’ (aka 'recylcling') from Other Comprehensive Income (OCI), here.
Watch FASB's website, www.fasb.org, for the posting of the proposal relating to ASU 2011-5/OCI; the comment period could be 15 days (or more); a minimum 15-day comment period was agreed to at last week's FASB board meeting.