: Financial Accounting Standards Board
FASB, IASB Amend Standards For Presentation Of Comprehensive Income
On June 16, 2011 FASB and the IASB issued amendments to their standards relating to presentation of comprehensive income and other comprehensive income.
FEI Letter To FASB, IASB Asks For Reexposure Of Revenue Recognition ED
On June 10, 2011 FEI's Committee on Corporate Reporting filed a comment letter with the FASB and IASB asking for formal reexposure of the board's Exposure Draft on Revenue Recognition, to provide an opportunity for public comment on the ED, which the FEI committee notes has gone through substantive changes following the board's review of public comments on the original Exposure Draft.
FASB Exempts Private Cos. From Certain Revenue Recognition Disclosure Requirements
At its June 8 board meeting, FASB decided to exempt private companies from certain disclosure requirements in its upcoming standard on revenue recognition.
SEC Launches 'Financial Reporting Series' On Risks In Financial Reporting System
In remarks at USC's 30th Annual SEC and Financial Reporting Institute, SEC Chief Accountant Jim Kroeker announced that the SEC will launch a series of roundtables "to facilitate a balanced discussion of existing pressures or emerging issues in financial reporting."
XBRL US GAAP Taxonomy: FASB, SEC Staff On June 22 Webcast
FASB ASU 2011-01 Defers Effective Date Of Troubled Debt Restructuring Disclosures
On Jan. 20, 2011 FASB released ASU 2011-01, deferring the effective date of Troubled Debt Restructuring Disclosures set forth in ASU 2010-10. All other 2010-20 disclosures maintain their original effective date.
2011 U.S. GAAP XBRL Taxonomy Awaits SEC Acceptance; 2011 IFRS Taxonomy Proposed
On Jan. 18, 2011 the FAF released the 2011 U.S. GAAP Taxonomy, pending SEC acceptance. On the same day, the IFRS Foundation released for public comment an Exposure Draft of the proposed 2011 IFRS Taxonomy.
FEI CPC-S comments on Leases ED
COT Joins FEI Committees on Letter to FASB Regarding Loss Contingencies Proposal
FASB Prepares To Release Proposal On FIN 48 For Certain Private Entities
On April 14, 2009 FASB discussed upcoming guidance on application of FIN 48, Uncertainty in Income Taxes, to private companies, specifically focusing on guidance for pass-through entities, which include private companies and other types of entities (e.g., certain partnerships).