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Action Alert No. 07-42
October 18, 2007
NOTICE OF MEETINGS
OPEN JOINT FASB AND IASB BOARD MEETINGS
(Board meetings are available by audio webcast and telephone.)
Monday, October 22, 2007, 11:00 a.m.
- Financial statement presentation (estimated 1-hour discussion). The Boards will discuss an outline of the initial discussion document and the remaining issues to be addressed.
- Conceptual framework: objectives and qualitative characteristics (estimated 30-minute discussion). The Boards will discuss the length of the comment period for a forthcoming Exposure Draft on Chapters 1 and 2 of the common conceptual framework they are developing and discuss any sweep issues that have arisen during drafting.
- Conceptual framework: elements and recognition (estimated 30-minute discussion). The Boards will continue their discussions of examples of application of the proposed working definition of an asset. The staff will seek to learn whether the Boards have a preliminary view on the definition of an asset.
- Revenue recognition (estimated 2.5-hour discussion). The staff will present the Boards with a preliminary overview of the two revenue recognition models that have been developed. The staff also will discuss its plans for meeting the objective of issuing a discussion paper on revenue recognition next year.
Tuesday, October 23, 2007, 8:30 a.m.
Accounting principles for derecognizing financial assets (estimated 2-hour discussion). The objective of this informational session is to update the Boards regarding staff research progress on derecognition in terms of the Memorandum of Understanding (MOU), and present core staff conclusions on principles for derecognizing financial assets measured at fair value.
OPEN EDUCATION SESSION
Wednesday, October 24, 2007, 9:00 a.m.
The Board will hold an educational, non-decision-making session to discuss topics that are anticipated to be discussed at a future Board meeting. Those topics will be posted to the FASB calendar four days prior to the education session.
BOARD ACTIONS
The Board Actions are provided for the information and convenience of constituents who want to follow the Board’s deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions are included in an Exposure Draft for formal comment only after a formal written ballot. Decisions in an Exposure Draft may be (and often are) changed in redeliberations based on information provided to the Board in comment letters, at public roundtable discussions, and through other communication channels. Decisions become final only after a formal written ballot to issue a final Statement, Interpretation, FSP, or Statement 133 Implementation Issue.
October 10, 2007 Board Meeting
Liabilities and equity. The Board decided to expose the Preliminary Views on liabilities and equity for a six-month comment period. Additionally, the Board decided to solicit feedback about the characteristics of a dividend payable in the Preliminary Views.
FUTURE OPEN MEETINGS
The following is a list of open meetings tentatively scheduled through December. 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, October 31, 2007—FASB Board Meeting
Wednesday, October 31, 2007—FASB Education Session
Wednesday, November 7, 2007—FASB Board Meeting
Wednesday, November 7, 2007—FASB Education Session
Tuesday, November 13, 2007—Investors Technical Advisory Committee Meeting
Wednesday, November 14, 2007—FASB Board Meeting
Wednesday, November 14, 2007—FASB Education Session
Friday, November 16, 2007—Liaison Meeting with Chartered Financial Analysts Institute
Wednesday, November 21, 2007—FASB Board Meeting
Wednesday, November 21, 2007—FASB Education Session
Wednesday, November 28, 2007—FASB Board Meeting
Thursday, November 29, 2007—Emerging Issues Task Force Meeting
Wednesday, December 5, 2007—FASB Board Meeting
Wednesday, December 5, 2007—FASB Education Session
Thursday, December 6, 2007—Financial Accounting Standards Advisory Council Meeting
Friday, December 7, 2007—Small Business Advisory Committee Meeting
Wednesday, December 12, 2007—FASB Board Meeting
Wednesday, December 12, 2007—FASB Education Session
Wednesday, December 19, 2007—FASB Board Meeting
Wednesday, December 19, 2007—FASB Education Session
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