During the last quarter, a number of new standards and regulatory matters have affected FEI members. FEI's Committee on Corporate Reporting (CCR) is important to FEI, representing 45 of the largest Fortune 100 companies making up more than $5 trillion in market capitalization. CCR is highly influential to the preparer community as it monitors accounting and financial reporting developments of the Financial Accounting Standards Board (FASB), International Financial Reporting Standards Board (IASB), the U.S. Securities and Exchange Commission (SEC), and Public Company Accounting Oversight Board (PCAOB).
The Committee frequently engages in discussions with these bodies on issues critical to FEI members, and provides feedback through the formal comment letter process. During our most recent quarterly CCR meetings in Stamford, CT, we met with the FASB to discuss recent standardsetting activities.
As Chair of CCR, I am pleased to share another edition of What We Learned, highlighting our most recent CCR meetings as well as other standard-setting and financial reporting developments during the last quarter. It is our hope you find this publication helpful and insightful, as we share with you what we learned.
I look forward to continuing the dialogue on these and other topics through FEIconnect. Financial Executives International's (FEI) Committee on Corporate Reporting (CCR) met in Stamford, CT, in June for its quarterly meeting to discuss the latest accounting and financial reporting issues facing the preparer community. During those meetings, CCR members held a session with the Financial Accounting Standards Board.
This issue of "What We Learned" highlights the topics covered and shares what FEI members need to know.
Research Agenda
The FASB is continuing to consider its agenda going forward and where it allocates its resources. Currently on the research agenda for consideration are four projects including:
Pensions and other postretirement employee benefit plans;Intangible assets;Distinguishing liabilities from equity; andFinancial performance reporting
While acknowledging the research agenda is the result of extended outreach and feedback over the past couple years, FASB Chairman Russ Golden noted the Board does not have the resources to add all four projects to its formal...