FASB
- January 2008
- FASB Webcast – Proposed Improvements to Financial Statement Presentation.
- The Financial Accounting Standards Board will conduct a webcast to discuss the recently issued Discussion Paper, Preliminary Views on Financial Statement Presentation. The webcast is scheduled for Tuesday, January 27, 2009 and is offered free of charge. The Discussion Paper was issued by the FASB and IASB on October 16, 2008.
- December 2008
- IASB and FASB Announce Membership of Financial Crisis Advisory Group.
- The Financial Crisis Advisory Group (FCAG) is the high-level advisory group set up by the boards to consider financial reporting issues arising from the global financial crisis.
- Revenue Recognition discussion paper issued
- December 19, 2008 – The International Accounting Standards Board and the U.S. Financial Accounting Standards Board published a discussion paper setting out a joint approach to recognition of revenue. The discussion paper is open for comment until June 19, 2009.
- FASB will re-examine accounting for financial instruments.
- According to The Wall Street Journal, the use of mark-to-market accounting might be extended to a wider variety of securities, which could cause a battle between FASB, other regulators, companies and some legislators. However, according to Thomas Linsmeier, a FASB board member, investors said mark-to-market accounting is the "best approach."
View full article > | FASB Agenda Decisions – Financial Instruments >
- November 2008
- Hans Hoogervorst and Harvey Goldschmid to Co-Chair Advisory Group
- November 14, 2008 - The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) announced that Hans Hoogervorst, Chairman of the Netherlands Authority for the Financial Markets (AFM), the Dutch securities regulator and Harvey Goldschmid, former Commissioner of the United States Securities and Exchange Commission (US SEC) have agreed to co-chair the high-level advisory group formed to consider financial reporting issues arising from the global economic crisis.
- FAF Chairman asks G20 leaders to support independent standard setting.
- November 14, 2008 – In a letter to President Bush, Robert E. Denham Chairman of the Financial Accounting Foundation asks for support of independent standard setting and open due process free from political interference.
- IASB and FASB Announce Dates for U.S. and Asian Round Tables
- November 6, 2008 – The International Accounting Standards Board and the U.S. Financial Accounting Standards Board have announced that the remaining two round-table discussions to identify financial reporting issues highlighted by the global financial crisis will be held in Norwalk, Connecticut on November 25, 2008 and in Tokyo on December 3, 2008.
- October 2008
- IASB and FASB Announce Further Details on Effort to Enhance Market Confidence
- October 20, 2008 – The International Accounting Standards Board and the Financial Accounting Standards Board will form a joint advisory group and conduct roundtable discussions to consider how improvements in financial reporting could help investor confidence in the markets. The accounting boards also emphasize their commitment to finding common long-term solutions to the reporting of financial instruments.
- FASB and IASB to Create Advisory Group
- October 16, 2008 - The Financial Accounting Standards Board and the International Accounting Standards Board will create a global advisory group to ensure that reporting issues arising from the global economic crisis are considered in an internationally coordinated manner.
- IASB and FASB Launch Consultation on Proposed Enhancements to the Presentation of Financial Statements
- October 16, 2008 – The two accounting boards issued for public comment a discussion paper on financial statement presentation and propose to introduce cohesiveness and disaggregation as the two main objectives of financial statement presentation.
- September 2008
- SEC Office of the Chief Accountant and FASB Staff Clarifications on Fair Value
- September 30, 2008 - Office of Chief Accountant recognizes and supports efforts of FASB and the IASB on issues of fair value. While FASB is preparing to propose additional interpretative guidance on fair value measurements under U.S. GAAP, SEC and FASB staffs provide immediate clarification to a number of questions.
- Completing the February 2006 Memorandum of Understanding
- A progress report and timetable for completion.
- February 27, 2006
- FASB/IASB Memorandum of Understanding
- A Roadmap for Convergence between IFRSs and US GAAP—2006-2008.
- FASB Work Plan
