Revised 05/12/05—See below

Action Alert No. 05-19
May 12, 2005

NOTICE OF MEETINGS

OPEN BOARD MEETING
(Board meetings are available by audio webcast and telephone.)

Wednesday, May 18, 2005, 9:00 a.m.

  1. Stable value investments. [Revised 5/12/05—This topic has been postponed to a future Board meeting.] The Board will discuss remaining issues related to a draft of a proposed FASB Staff Position (FSP), which describes the limited circumstances in which contract value accounting is appropriate for fully benefit-responsive investment contracts held by an investment company. The Board will decide whether to post the proposed FSP to the website. (Estimated 60-minute discussion.)

  2. Electronic waste obligations. The Board will discuss the issues raised in the comments received on proposed FSP FAS 143-a, "Accounting for Electronic Equipment Waste Obligations," and whether to proceed to a final FSP. (Estimated 30-minute discussion.)

  3. Segment reporting: similar economic characteristics. The Board will discuss the issues raised in the comments received on proposed FSP FAS 131-a, "Determining Whether Operating Segments Have 'Similar Economic Characteristics' under Paragraph 17 of FASB Statement No. 131, Disclosures about Segments of an Enterprise and Related Information," and whether to proceed to a final FSP. (Estimated 30-minute discussion.)

  4. Financial guaranty insurance. [Revised 5/12/05—This topic has been postponed to a future Board meeting.] The Board will consider whether to add a project to its agenda that addresses the accounting for financial guaranty insurance. (Estimated 60-minute discussion.)

  5. Minimum revenue guarantees. The Board will discuss whether to add a project to its agenda that considers whether the recognition, measurement, and disclosure provisions of FASB Interpretation No. 45, Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others, apply to a guarantor's accounting for a minimum revenue guarantee granted to a business or its owners. The Board will decide whether guidance should be in the form of an FSP. (Estimated 30-minute discussion.)

  6. Employee compensation: classification of freestanding financial instruments. The Board will discuss whether to finalize the issuance of proposed FSP EITF 00-19-a, "Application of EITF Issue No. 00-19, 'Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company's Own Stock,' to Freestanding Financial Instruments Originally Issued as Employee Compensation." In making that decision, the Board will consider whether to amend FASB Statement No. 123 (revised 2004), Share-Based Payment, for changes in classification between equity and liability when instruments are no longer subject to Statement 123(R). (Estimated 60-minute discussion.)

  7. 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 SESSIONS

Wednesday, May 18, 2005, 8:00 a.m. – 9:00 a.m.
Wednesday, May 18, 2005, immediately following the Board meeting
Thursday, May 19, 2005, 9:00 a.m.

The Board will hold educational, non-decision-making sessions to discuss topics that are anticipated to be discussed at the May 25 and June 1, 2005 Board meetings. Those topics will be posted to the FASB calendar four days prior to the education sessions.

 

BOARD ACTIONS

The Board meeting that was originally scheduled for Wednesday, May 4, 2005 was cancelled.

FUTURE OPEN MEETINGS

The following is a list of open meetings tentatively scheduled through June. 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.

Tuesday, May 24, 2005—Equipment Leasing Association of America Liaison Meeting
Wednesday, May 25, 2005—FASB Board Meeting
Wednesday, May 25, 2005—FASB Education Session
Wednesday, June 1, 2005—FASB Board Meeting
Wednesday, June 1, 2005—FASB Education Session
Wednesday, June 8, 2005—FASB Board Meeting
Wednesday, June 8, 2005—FASB Education Session
Friday, June 10, 2005—Liaison Meeting with Financial Executives International, Stamford, CT
Tuesday, June 14, 2005—Joint International Group Meeting on Performance Reporting, New York, NY
Wednesday, June 15, 2005—Board Meeting
Wednesday, June 15, 2005—FASB Education Session
Wednesday, June 15, 2005—p.m. Emerging Issues Task Force Meeting
Thursday, June 16, 2005—Emerging Issues Task Force Meeting
Tuesday, June 21, 2005—Financial Accounting Standards Advisory Council
Wednesday, June 22, 2005—Small Business Advisory Committee
Thursday, June 23, 2005—FASB Education Session
Wednesday, June 29, 2005—FASB Board Meeting
Wednesday, June 29, 2005—FASB Education Session