Action Alert No. 06-07
February 16, 2006
NOTICE OF MEETINGS
OPEN BOARD MEETING
meetings are available by audio webcast and telephone.)
No Board meetings are planned for the week of February 20, 2006. The
next scheduled Board meeting is Wednesday, March 1, 2006, and topics for
that meeting will be announced in next week's issue of Action
OPEN EDUCATION SESSION
Wednesday, February 22, 2006, 9:00 a.m.
The Board will hold an educational, non-decision-making session to
discuss topics that are anticipated to be discussed at the March 1, 2006
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 February 6,
At its February 2 and 7, 2006 meetings, the EITF Agenda Committee added
three new issues to the EITF agenda on the following topics:
- How Sales Taxes Collected from Customers and Remitted to Taxing
Authorities Should Be Presented in the Income Statement (That Is, Gross
Versus Net Presentation)
- Accounting for Sabbatical Leave and Other Similar Benefits Pursuant
to FASB Statement No. 43, Accounting for Compensated Absences
- Accounting for Purchases of Life Insurance—Determining the Amount
That Could Be Realized in Accordance with FASB Technical Bulletin No.
85-4, Accounting for Purchases of Life Insurance.
FASB DOCUMENT AVAILABLE
FASB Statement No.
155, Accounting for Certain Hybrid Financial Instruments,
was issued on February 16, 2006, and is available on the FASB website.
FUTURE OPEN MEETINGS
The following is a list of open meetings tentatively scheduled through
March. 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, March 1, 2006—FASB Board Meeting
Wednesday, March 1,
2006—FASB Education Session
Wednesday, March 8, 2006—FASB Board
Wednesday, March 8, 2006—FASB Education Session
March 15, 2006—FASB Board Meeting
Wednesday, March 15,
2006—(Canceled) p.m., Emerging Issues Task Force
Wednesday, March 15, 2006—FASB Education
Thursday, March 16, 2006—Emerging Issues Task Force
Wednesday, March 22, 2006—FASB Board Meeting
March 22, 2006—FASB Education Session
Thursday, March 23,
2006—Financial Accounting Standards Advisory Council Meeting
March 29, 2006—FASB Board Meeting
Wednesday, March 29, 2006—FASB