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In our comment letter, we support the FASB’s efforts to clarify certain aspects of the new guidance on recognizing and measuring financial instruments. However, we believe the Board should define “same type” of equity securities to help entities apply the guidance on changing from the measurement alternative to a fair value method. In addition, we recommend that the Board clarify the acceptability of the cost method with amortization to account for investments in qualified affordable housing projects and provide guidance on the transition approach for certain insurers that measure their equity securities without readily determinable fair values at fair value with changes in fair value recognized in other comprehensive income.