Deferred Inflows of Resources and Deferred Outflows of Resources Omnibus Project

The objective of this project would be to identify, in existing authoritative literature, requirements to recognize balances that may appear to meet the definitions in Concepts Statement No. 4, Elements of Financial Statements, of deferred outflows of resources or deferred inflows of resources, and to determine whether those balances should continue to be recognized as assets or liabilities or reclassified for financial reporting purposes as deferred outflows or deferred inflows of resources, respectively.

A deferred outflow of resources is a consumption of net assets by the government that is applicable to a future reporting period.

A deferred inflow of resources is an acquisition of net assets by the government that is applicable to a future reporting period.

The following items could potentially qualify as deferred outflow or deferred inflow of resources:
Deferred revenue

Deferred revenue related to food stamps

Deferred revenues related to taxes and grant programs and advances

Loan commitment fees

Operating leases

Differences between reacquisition price and net carrying amount of old debt

Premium, discounts, and issue costs

Sale of future revenues

Capital leases-accounting for sales-type and direct financing leases by the lessor

Capital leases-accounting by the lessee for refunding by the lessor of tax-exempt debt

Sale-leaseback transactions

Cable television systems-Hookup revenue and costs

Lending activities- loan origination fees and commitment fees and costs

Results of application of the interest method to net fees or costs that are required to be recognized as yield adjustments over the life of a loan

Mortgage banking activities-loan origination fees and costs associated with loans held for resale or investment

Regulated operations-rate action of a regulator when current rates are intended to recover costs that are expected to be incurred in the future

Regulated operations-rate action of a regulator when the regulator requires that a gain or other reduction of net allowable costs be given to customers over future periods