منتدى المراجع المصرى/المحاسب القانونى محمد صفوت - FASB issues standard deferring certain disclosures for nonpublic employee benefit plans

Jul 08, 2013

The FASB has issued Accounting Standards Update (ASU) No. 2013-09, ‘Fair Value Measurement (Topic 820): Deferral of the Effective Date of Certain Disclosures for Nonpublic Employee Benefit Plans in Update No. 2011-04’. The ASU defers indefinitely the effective date for certain disclosures about investments held by a nonpublic employee benefit plan in the plan sponsor’s own equity securities.
The main provisions provided in this ASU are:
[D]efer indefinitely the effective date of certain required disclosures in Update 2011-04 (Topic 820) of quantitative information about the significant unobservable inputs used in Level 3 fair value measurements for investments held by a nonpublic employee benefit plan in its plan sponsor’s own nonpublic entity equity securities, including equity securities of its plan sponsor’s nonpublic affiliated entities. The amendments in this Update do not defer the effective date for those certain quantitative disclosures for other nonpublic entity equity securities held in the nonpublic employee benefit plan or any qualitative disclosures.
The amendments address the concerns where nonpublic entities with annual periods beginning after December 15, 2011, would potentially provide proprietary information about nonpublic entities through the dissemination of their employee benefit plans’ financial statements on the regulator’s website.
The deferral is effective immediately for all financial statements that have not yet been issued.
Click for (links to FASB website):