Action Alert No. 06-22
June 1, 2006


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

Wednesday, June 7, 2006, 9:00 a.m.

  1. Transfers of financial assets (estimated 90-minute discussion). The Board will discuss its plan to redeliberate issues raised by respondents to the August 11, 2005 revised Exposure Draft, Accounting for Transfers of Financial Assets.

  2. Definition of a public entity in a conduit borrowing arrangement (estimated 30-minute discussion). The Board will discuss whether to issue a proposed FSP to clarify the definition of a public entity. The Board also will discuss the effective date, transition, and the length of the comment period of the proposed FSP.

  3. 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.


Wednesday, June 7, 2006, 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.


No Board meetings were held during the week of May 22, 2006.


The following documents are available on the FASB website:

  1. FASB Invitation to Comment, Bifurcation of Insurance and Reinsurance Contracts for Financial Reporting (May 26, 2006). Comments are requested by August 24, 2006.

  2. Proposed FSP AUG AIR-a, "Accounting for Planned Major Maintenance Activities" (May 31, 2006). Comments are requested by July 31, 2006.


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.

Wednesday, June 14, 2006—No FASB Board Meeting
Wednesday, June 14, 2006—FASB Education Session
Thursday, June 15, 2006—Emerging Issues Task Force Meeting
Monday, June 19, 2006—a.m., Fair Value Option Roundtable Meeting
Monday, June 19, 2006—p.m., Liaison Meeting with Financial Executives International, Stamford, CT
Tuesday, June 20, 2006—FASB Board Meeting
Tuesday, June 20, 2006—FASB Education Session
Wednesday, June 21, 2006—Small Business Advisory Council Meeting
Thursday, June 22, 2006—Financial Accounting Standards Advisory Council Meeting
Tuesday, June 27, 2006—Postretirement Benefit Obligations including Pensions Roundtable Meeting
Wednesday, June 28, 2006—FASB Board Meeting
Wednesday, June 28, 2006—FASB Education Session