|
Action Alert No. 08-39
September 25, 2008
NOTICE OF MEETINGS
OPEN BOARD MEETING
(Board
meetings are available by audio webcast and telephone.)
Wednesday, October 1, 2008, 9:00 a.m.
- Applicability of FASB Interpretation No. 48 to private
entities (estimated 1-hour discussion). The Board will
discuss issues relating to whether private companies should be exempt
from certain disclosure requirements of FASB Interpretation No. 48,
Accounting for Uncertainty in Income Taxes. In addition, the
Board will discuss providing guidance on the applicability of
Interpretation 48 to pass-through and not-for-profit entities.
- [Revised 10/01/08: This topic was added to
the Board meeting agenda.] Determining fair value in a
market that is not active. The Board will address a goal of
providing additional guidance on fair value accounting consistent with
the principles of FASB Statement No. 157, Fair Value
Accounting, regarding the valuation of assets when markets
have become inactive. A proposed FSP regarding additional guidance on
Statement 157 will be presented and discussed.
- [Revised 10/01/08: This topic will not be
discussed at today's Board meeting and will be discussed at a future
meeting.] Mergers and acquisitions
by a not-for-profit organization (estimated 1-hour
discussion). The Board will continue its discussion and decide
whether to retain or modify the proposed requirements for (a) initial
recognition and measurement of acquisitions by not-for-profit
organizations and (b) subsequent accounting for any goodwill recognized
as a result of the acquisition.
- 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 1, 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.
OPEN MEETING WITH REPRESENTATIVES OF THE CFA INSTITUTE
(This
meeting is available by audio webcast and telephone.)
Thursday, October 2, 2008, 8:30 a.m. - 12:30 p.m.
The Board will meet with representatives of the Corporate Disclosure
Policy Committee of the CFA Institute to discuss matters of mutual
interest.
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.
September 18, 2008 Board Meeting
Mergers and
acquisitions by a not-for-profit organization. The Board discussed
the input it received about the operationality of the proposed criterion
for distinguishing between a merger of not-for-profit organizations and an
acquisition by a not-for-profit organization. That criterion is important
because the Board previously decided that a merger should be accounted for
differently from an acquisition—that is, by combining the carrying values
of the merging organizations rather than by applying the acquisition
method. The Board sought input on the proposed criterion through a May
2008 request for additional comments on the potential revision to the
October 2006 Exposure Draft, Not-for-Profit Organizations: Mergers and
Acquisitions (posted to the FASB website), and through field visits
with various not-for-profit organizations. This meeting was informational
and no Board decisions were reached; however, the Board will continue its
discussion of this topic at its September 24, 2008 meeting.
FASB DOCUMENT AVAILABLE
Proposed
FSP FAS 144-d, Amending the Criteria for Reporting a
Discontinued Operation, was issued on September 25, 2008, and is
available on the FASB website. The comment period ends January 23,
2009.
FUTURE OPEN MEETINGS
The following is a list of open meetings tentatively scheduled through
November. 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 8, 2008—FASB Board Meeting
Wednesday, October 8,
2008—FASB Education Session
Wednesday, October 15, 2008—FASB Board
Meeting
Wednesday, October 15, 2008—FASB Education Session
Monday,
October 20, 2008—FASB/IASB Joint Board Meeting, Norwalk, CT
Tuesday,
October 21, 2008—FASB/IASB Joint Board Meeting, Norwalk, CT
Wednesday,
October 22, 2008—FASB Education Session
Wednesday, October 29,
2008—FASB Board Meeting
Wednesday, October 29, 2008—FASB Education
Session
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
Wednesday, November 12, 2008—Emerging
Issues Task Force 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
|
|