Project Pages

Implementation Guidance—Update

Project Description: The objective of this project is to update implementation guidance for additional issues that come to the attention of the staff. In addition, this project will result in issuance of an annual update to the Comprehensive Implementation Guide.

Status:
Implementation Guide No. 2016-1 cleared for Issuance: March 2016

Implementation Guidance—Update—Project Plan

Background: In June 2015, the Board cleared for issuance Implementation Guide No. 2015-1. That guide is the first issued as Category B literature in the hierarchy of generally accepted accounting principles (GAAP) established by Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles. Implementation guidance is updated annually through the addition of new questions and answers, which is incorporated into the Comprehensive Implementation Guide.

Project History:
  • Implementation Guide No. 2015-1 cleared for issuance: June 2015
  • Project added to current technical agenda: July 2015
  • Deliberations began: September 2015
  • Exposure Draft issued: September 2015
  • Comment period: September–November 2015
  • Redeliberations began: January 2016
  • Implementation Guide No. 2016-1 cleared for issuance: March 2016

Current Developments: An Exposure Draft of a proposed Implementation Guide was approved on September 21, 2015. The comment period concluded on November 30, 2015. Implementation Guide No. 2016-1 was cleared for issuance on March 7, 2016.

Work Plan
:

Board Meetings   Topics to be Considered
April–September 2016:   Development of materials for 2017 update.
October 2016:   Review preballot draft of an Exposure Draft of a proposed Implementation Guide.
November 2016 (T/C):   Review ballot draft and clear Exposure Draft of a proposed Implementation Guide.
December 2016–January 2017:   Comment period (60 days).
February 2017:   Redeliberate issues based on respondent feedback. Review preballot draft of a final Implementation Guide.
March 2017 (T/C):   Review ballot draft and clear final Implementation Guide.

Implementation Guidance—Update—Recent Minutes


Minutes of Teleconference, March 7, 2016

The Board reviewed a ballot draft of Implementation Guide No. 2016-1, Implementation Guide Update—2016, and considered clarifying edits to some proposed questions and answers. After discussing those proposals, the Board did not object to the issuance of the Guide.

Minutes of Meetings, February 16-18, 2016

The Board reviewed a preballot draft of the Implementation Guide 20XX-XX and considered modifications to some proposed questions and answers. The Board also considered a modification to Appendix B in response to issues raised by a respondent to the Exposure Draft, Implementation Guide 20XX-XX. The Board did not object to the proposed modifications. The Board voted unanimously to move forward with a ballot draft of the Implementation Guide.

Minutes of Meetings, January 5-6, 2016

The Board considered issues raised by respondents to the Exposure Draft, Implementation Guide 20XX-XX. The Board considered modifications to some proposed questions in response to these issues. The Board did not object to the proposed modifications and provided other suggestions to clarify the content of the materials. The Board tentatively decided to exclude from the Implementation Guide proposed Questions 4.69 and 5.37.

Minutes of Teleconference, September 21, 2015

The Board began deliberations by reviewing the ballot draft of the Exposure Draft, Implementation Guide No. 20XX-XX, Implementation Guidance Update—20XX. The Board provided suggestions to clarify the content of materials. After discussing those suggested clarifications, the Exposure Draft was cleared for issuance. No Board member objected to the issuance of the Exposure Draft.

Minutes of Meetings, September 1-3, 2015

The Board evaluated new questions to be incorporated into the Exposure Draft, Implementation Guide No. 20XX-XX, Implementation Guidance Update—20XX. The Board also considered revisions to questions included in Implementation Guide No. 2015-01. The new and revised questions either were proposed by respondents who provided feedback during the comment period for the Exposure Draft, Implementation Guide 2015-1, or were identified through internal review. The Board tentatively agreed that the new and revised questions should be included in the Exposure Draft, Implementation Guide 20XX-XX.

The Board also considered the removal of questions that were included in Implementation Guide 2015-01. The Board tentatively agreed that these questions, which were identified through internal review, should be removed through the codification instructions in the Exposure Draft.

Finally, the Board reviewed a preballot draft of the Exposure Draft, Implementation Guide No. 20XX-X, Implementation Guidance Update—20XX, and provided clarifying edits and comments. The Board will review a ballot draft of the Exposure Draft at the September teleconference.

Minutes Archive


Implementation Guidance—Update—Tentative Board Decisions


The Board did not object to the issuance of Implementation Guide No. 2016-1, Implementation Guidance Update—2016.