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Action Alert No. 05-32
August 11, 2005
NOTICE OF MEETINGS
OPEN BOARD MEETING
(Board
meetings are available by audio webcast and telephone.)
Wednesday, August 17, 2005, 9:00 a.m.
- Subsequent events. The Board will discuss whether to add a
project to its agenda to establish standards of accounting for and
reporting of events subsequent to the balance sheet date. (Estimated
30-minute discussion.)
- Useful
life and amortization of intangible assets. The Board will
reconsider certain aspects of FASB Statement No. 142, Goodwill and
Other Intangible Assets, as they relate to the determination of the
useful life and amortization of intangible assets. Specifically, the
Board will consider alternative models that address the practice issue
associated with subparagraph 11(d) of Statement 142. (Estimated 60
minute discussion.)
- Classification
of freestanding financial instruments issued as employee
compensation. The Board will consider comment letters received
on proposed FASB Staff Position (FSP) FAS 123(R)-a, "Classification and
Measurement of Freestanding Financial Instruments Originally Issued as
Employee Compensation." The Board will discuss whether to proceed to a
draft of a final FSP. (Estimated 45-minute discussion.)
- Open discussion. If necessary, the Board will allow time to
discuss minor issues with staff members on technical projects or
administrative matters. Those discussions are held following regular
Board meetings as topics come up.
OPEN EDUCATION SESSION
Wednesday, August 17, 2005, following the Board meeting
The Board will hold an educational, non-decision-making session to
discuss topics that are anticipated to be discussed at the August 24, 2005
and August 31, 2005 Board meetings. Those topics will be posted to the
FASB calendar four
days prior to the education session.
AcSEC CLEARANCE
August 3, 2005 Board Meeting
AcSEC document. The Board met with representatives of the
Accounting Standards Executive Committee (AcSEC) and discussed the
clearance of a final AICPA Statement of Position (SOP), Accounting by
Insurance Enterprises for Deferred Acquisition Costs in Connection with
Modifications or Exchanges of Insurance Contracts. The Board did not
object to the issuance of the final SOP subject to changing the transition
provisions to be consistent with FASB Statement No. 154, Accounting
Changes and Error Corrections, and certain editorial comments.
FASB DOCUMENTS
The following documents were issued on August 11, 2005, and are
available on the FASB website:
FASB Exposure
Draft, Accounting for Certain Hybrid Financial
Instruments
FASB
Exposure Draft, Accounting for Servicing of Financial
Assets
FASB
Exposure Draft, Accounting for Transfers of Financial
Assets.
Comments on those Exposure Drafts are requested by October 10,
2005.
FUTURE OPEN MEETINGS
The following is a list of open meetings tentatively scheduled through
September. Because schedules may change, please check the FASB calendar before
finalizing your plans. Revisions to this list since the last issue of
Action Alert are highlighted in bold.
Wednesday, August 24, 2005—FASB Board Meeting
Wednesday, August 24,
2005—FASB Education Session
Wednesday, August 31, 2005—FASB Board
Meeting
Wednesday, August 31, 2005—FASB Education Session
Wednesday,
September 7, 2005—FASB Board Meeting
Wednesday, September 7, 2005—FASB
Education Session
Friday, September 9, 2005—Liaison Meeting with the
CFA Institute
Wednesday, September 14, 2005—FASB Board
Meeting
Wednesday, September 14, 2005—FASB Education
Session
Thursday, September 15, 2005—FASB Emerging Issues Task Force
Meeting
Monday, September 19, 2005—Liaison Meeting with the AICPA PCPS
Technical Issues Committee
Wednesday, September 21, 2005—FASB Board
Meeting
Wednesday, September 21, 2005—No FASB Education Session
Scheduled
Thursday, September 22, 2005—Financial Accounting
Standards Advisory Council Meeting
Friday, September 23, 2005—Liaison
Meeting with the Institute of Management Accountants
Wednesday,
September 28, 2005—FASB Board Meeting
Wednesday, September 28,
2005—FASB Education Session
Thursday, September 29, 2005—User Advisory
Council Meeting
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