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Action Alert No. 08-43
October 23, 2008
NOTICE OF MEETINGS
OPEN BOARD MEETING
(Board
meetings are available by audio webcast and telephone.)
Wednesday, October 29, 2008, 1:00 p.m.
The Board meeting will begin at 1:00 p.m. instead of 9:00
a.m.
- Disclosures
about plan assets (estimated 1-hour discussion). The
Board will continue redeliberations of FSP FAS 132(R)-a, Employers’
Disclosures about Postretirement Benefit Plan Assets. The Board will
discuss disclosure requirements relating to fair value measurements of
plan assets, transition, and effective date.
- Assets and liabilities arising from contingencies in a business
combination (estimated 1-hour discussion). The Board will
discuss issues raised by constituents on the accounting for assets and
liabilities arising from contingencies in a business combination and
whether to issue a proposed FSP that would amend FASB Statement No. 141
(revised 2007), Business Combinations, to address those issues.
- 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, October 29, 2008, following the Board meeting
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 15, 2008 Board Meeting
Applicability
of FASB Interpretation No. 48 to private entities. The Board
redeliberated the scope of the proposed deferral of FASB Interpretation
No. 48, Accounting for Uncertainty in Income Taxes, for certain
nonpublic entities. The Board previously had decided at the October 1,
2008 meeting that the deferral should be limited to only pass-through
entities.
The Board decided to issue a proposed FASB Staff Position (FSP) to
defer Interpretation 48 for all nonpublic entities until fiscal years
beginning after December 15, 2008, rather than limiting the deferral to
pass-through entities only. As decided at the October 1, 2008 meeting,
this proposed FSP will have a 30-day comment period.
The Board also directed the staff to develop guidance for pass-through
entities and changes to the existing disclosure requirements for nonpublic
entities. The Board expects to finalize and issue such guidance in a
separate FSP in the first quarter of 2009.
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, November 5, 2008—FASB Board Meeting
Wednesday, November
5, 2008—FASB Education Session
Tuesday, November 11, 2008—Investors
Technical Advisory Committee Meeting
Wednesday, November 12, 2008—FASB
Board Meeting
Thursday, November 13, 2008—Emerging Issues Task Force
Meeting
Wednesday, November 19, 2008—FASB Board Meeting
Wednesday,
November 19, 2008—FASB Education Session
Tuesday, November 25,
2008—FASB Board Meeting
Tuesday, November 25, 2008—FASB Education
Session
Wednesday, December 3, 2008—FASB Board Meeting
Wednesday,
December 3, 2008—FASB Education Session
Wednesday, December 10,
2008—FASB Board Meeting
Wednesday, December 10, 2008—FASB Education
Session
Friday, December 12, 2008—Small Business Advisory Committee
Meeting
Monday, December 15, 2008—Financial Accounting Standards
Advisory Council Meeting
Wednesday, December 17, 2008—FASB Board
Meeting
Wednesday, December 17, 2008—FASB Education Session
Tuesday,
December 23, 2008—FASB Board Meeting
Tuesday, December 23, 2008—FASB
Education Session
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