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  • FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R)
    On 12 June 2009, the Financial Accounting Standards Board (FASB) issued Statement 167, which amends certain of the key provisions of FIN 46(R).2 Statement 167 responds to certain concerns about the application of FIN 46(R), such as the complexity involved ...more
    Ernst & Young LLP (11/13/2009)
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  • FASB proposes to defer Statement 167 for asset management funds
    its project to address concerns with the application of Statement 1671 to reporting enterprises in the asset management industry. As written, Statement 167 may result in asset managers consolidating many hedge funds, private equity funds and other ...more
    Ernst & Young LLP (11/11/2009)
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  • SEC proposal: Credit ratings disclosure
    On 7 October 2009, the US Securities and Exchange Commission (SEC) published a proposal that would require additional disclosure in registration statements when credit ratings are used by issuers, underwriters or other offering participants. The proposed  ...more
    Ernst & Young LLP (11/11/2009)
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  • IFRS Outlook: Insights on International GAAP
    G-20 and the principles for sound compensation - accounting implications for share-based payment transactions; Fair-value measurement - EY views; Preparing for 2009 year-end reporting under IFRS; Financial reporting developments; Resources. ...more
    Ernst & Young LLP (11/9/2009)
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  • Classification of financial instruments within the IFRS 7 fair value hierarchy
    As part of its commitment to enhance disclosure requirements in the present market climate, the International Accounting Standards Board made amendments to IFRS 7 Financial Instruments: Disclosures, applicable for annual periods beginning on or ...more
    Ernst & Young LLP (11/9/2009)
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  • FASB re-exposes proposed amendment to embedded credit derivative scope exception of Topic 815
    On 13 October 2009, the Financial Accounting Standards Board (FASB) re-exposed its Proposed Accounting Standards Update, Scope Exception Related to Embedded Credit Derivatives (proposed ASU) for public comment. In the revised exposure draft, ...more
    Ernst & Young LLP (10/19/2009)
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  • FASB issues proposed ASU on improving disclosures about fair value measurements
    On 28 August 2009, the Financial Accounting Standards Board (FASB) issued an exposure draft of proposed Accounting Standards Update, Improving Disclosures about Fair Value Measurements (the proposed ASU). The proposed ASU would amend ASC 8201 ...more
    Ernst & Young LLP (9/8/2009)
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  • FASB issues proposed ASU on consolidation scope
    On 28 August 2009, the FASB issued a Proposed Accounting Standards Update (ASU), "Accounting and Reporting for Decreases in Ownership of a Subsidiary - a Scope Clarification" (the Proposed Update). The Proposed Update addresses implementation ...more
    Ernst & Young LLP (9/8/2009)
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  • Supplement to IFRS outlook: Annual improvement 2009 - Summary of proposals
    The International Accounting Standards Board issued for public comment an exposure draft of Improvements to IFRSs (the 2009 ED). The 2009 ED is the third omnibus of proposed amendments to deal with non-urgent but necessary amendments to IFRSs. ...more
    Ernst & Young LLP (8/31/2009)
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  • IFRS Outlook: Insights on International GAAP
    Ways to move forward from the financial crisis; Proposed lease accounting model - a step too soon? Requitements for a third balance sheet in IFRS financial statements; Financial reporting developments; Resources. ...more
    Ernst & Young LLP (8/25/2009)
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  • FASB Statement No. 166, Accounting for Transfers of Financial Assets, an amendment of FASB Statement No. 140
    On 12 June 2009, the Financial Accounting Standards Board (FASB) issued Statement 1661 to address practices that have developed since the issuance of Statement 140,2 and concerns of financial statement users that many of the financial assets that have ...more
    Ernst & Young LLP (7/31/2009)
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  • FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R)
    On 12 June 2009, the Financial Accounting Standards Board (FASB) issued Statement 167.1 Statement 167 (1) addresses the effects of eliminating the qualifying special-purpose entity (QSPE) concept from Statement 140,2 and (2) responds to concerns about ...more
    Ernst & Young LLP (7/31/2009)
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  • IFRS Outlook: Insights on International GAAP
    Responding to the financial crisis, Private equity funds--accounting for investments, Borrowing costs and the role of foreign currency exchange gains or losses, Financial reporting developments, Resources. ...more
    Ernst & Young LLP (7/14/2009)
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  • IASB issues Discussion Paper on 'own credit risk'
    The International Accounting Standards Board recently published a Discussion Paper based on an IASB staff paper on the role of credit risk in liability measurement (often referred to as 'own credit risk'). The developments in the financial markets have ...more
    Ernst & Young LLP (7/8/2009)
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  • IFRS Outlook : Insights on International GAAP
    In this issue... What is going on with financial instruments? Equity accounting: a time for change? Financial reporting developments. Resources. ...more
    Ernst & Young LLP (6/15/2009)
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  • FASB issues Statement 166, an amendment to Statement 140
    Standards Board (FASB) issued FASB Statement No. 166, Accounting for Transfers of Financial Assets, an amendment of FASB Statement No. 140 (Statement 166). Statement 166, which was exposed for comment in September 2008, is in ...more
    Ernst & Young LLP (6/12/2009)
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  • FASB issues Statement 167, amendments to FIN 46(R)
    On 12 June 2009, the FASB issued Statement No. 167, Amendments to FASB Interpretation No. 46(R) (Statement 167), which (1) addresses the effects of eliminating the qualifying special-purpose entity (QSPE) concept from FASB Statement No. ...more
    Ernst & Young LLP (6/12/2009)
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  • Converting to IFRS: Effects on US banking and capital markets institutions
    While market discussions continue regarding the timing of the US conversion to IFRS, one fact is clear: To avoid surprises during an IFRS conversion, it is critical that various functional business areas be involved at the onset. In the recently released ...more
    Ernst & Young LLP (6/11/2009)
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  • FASB Issues Exposure Draft of Fair Value Measurement Guidance for Alternative Investments
    Since the issuance of FASB Statement No. 157, Fair Value Measurements (''SFAS 157''), certain constituents have raised questions regarding the application of the SFAS 157 to certain alternative investments, including private equity investments, ...more
    Ernst & Young LLP (6/9/2009)
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  • Fair Value Measurement - Proposals For A New Standard
    Many IFRSs require or permit entities to measure assets, liabilities or equity instruments at fair value, while others require disclosure of fair value. However, limited guidance exists on how to measure fair value, and that which does exist is dispersed ...more
    Ernst & Young LLP (6/2/2009)
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  • IASB Tentative Decisions on IAS 39
    Having announced, in Aprilt 2009, an accelerated timetable to revise IAS 39, the IASB debated some fundamental, but contentious, topics at its May 2009 meeting. Board members also voted on several Tentative Decisions to enable the IASB Staff come back ...more
    Ernst & Young LLP (6/1/2009)
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  • FASB issues proposal on measurement of liabilities at fair value
    On 01 May 2009, the FASB issued proposed FASB Staff Position No. FAS 157-f, "Measuring Liabilities under FASB Statement No. 157" (the proposed FSP). The proposed FSP is a revised exposure draft of FASB Staff Position No. FAS 157-c, which was ...more
    Ernst & Young LLP (5/8/2009)
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  • Insights on International GAAP: IFRS Outlook
    Is there a future for rate regulated assets and liabilities under IFRS? The provision and pricing of essential services such as electricity, natural gas and water are subjects close to the hearts of many stakeholders from customers, governments in their ...more
    Ernst & Young LLP (4/21/2009)
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  • Reclassification of financial assets
    This publication summarises all the recent amendments to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosure and IFRIC 9 Reassessment of Embedded Rerivatives. It also includes decision trees ...more
    Ernst & Young LLP (3/23/2009)
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  • Embedded Derivatives: Amendments to IFRIC 9 and IAS 39
    The IASB has just published Embedded Derivatives: Amendments to IFRIC 9 and IAS 39. Entities must assess whether to separate an embedded derivative from a host contract in the case where the entity reclassifies a hybrid financial asset out of the fair ...more
    Ernst & Young LLP (3/16/2009)
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  • FASB to propose FSPs to address fair value measurements and other-than-temporary impairments
    At its 16 March 2009 Board meeting, the FASB agreed to expose for public comment two proposed FSPs: (i) FSP 157-x, Determining Whether a Market is Not Active and a Transaction is Not Distressed (FSP 157-x), and (ii) an FSP that would address the ...more
    Ernst & Young LLP (3/16/2009)
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  • IFRS for non-publicly accountable entities; much more than a change of name
    Significant progress has been made in recent months by the International Accounting Standards Board in its re-deliberations on the Exposure Draft aimed at small and medium-sized entities. Based on the comment letters received, the Board has ...more
    Ernst & Young LLP (3/10/2009)
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  • FASB / IASB - To Issue a Discussion Paper on Lease Accounting
    In a recent meeting, the FASB announced that it will jointly issue, with the IASB, a Discussion Paper in March 2009 regarding their preliminary views on accounting for leases. The primary purpose of the Discussion Paper is to seek comments on the ...more
    Ernst & Young LLP (2/12/2009)
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  • The road to IFRS in the US
    On 14 November 2008, the US Securities and Exchange Commission issued a proposed "Roadmap" on the potential use of International Financial Reporting Standards as issued by the International Accounting Standards Board (IASB) in financial ...more
    Ernst & Young LLP (2/5/2009)
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  • Consolidation of Special Purpose Entities: Initial Reaction to ED 10 Consolidated Financial Statements
    On 18 December 2008, the IASB published its exposure draft of a new standard to replace the consolidation requirements of IAS 27 Consolidation and Separate Financial Statements and SIC 12 Consolidation - Special Purpose Entities. By addressing ...more
    Ernst & Young LLP (2/2/2009)
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  • 2008 Standard Setter Update: Financial Services Industry: Financial Reporting and Accounting Developments
    The financial services industry is experiencing some of the most challenging times in global economic history. Uncertain economic conditions continue to disrupt the financial markets. Governments around the world are taking steps to help their countries ...more
    Ernst & Young LLP (1/30/2009)
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  • FASB Decides Not To Issue Proposed FSP FAS 107-a - Financial Asset Disclosures
    On 23 January 2009, the Financial Accounting Standards Board (FASB) decided not to proceed with the issuance of proposed FASB Staff Position (FSP) FAS 107-a, Disclosures about Certain Financial Assets: An Amendment of FASB Statement No. 107 ...more
    Ernst & Young LLP (1/29/2009)
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  • FASB Posts Proposed Guidance on Embedded Credit Derivatives to its Website for Public Comment
    As previously discussed in our December 16, 2008 On-Call Accounting Alert, the FASB added a short-term peoject to its agenda during its December 15, 2008 Board meeting to expeditiously address certain matters regarding the accounting for ...more
    Ernst & Young LLP (1/15/2009)
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  • FASB issues FSP amending EITF 99-20
    On 12 January 2009, the Financial Accounting Standards Board (FASB) issued FASB Staff Position (FSP) EITF 99-20-1, Amendments to the impairment Guidance of EITF Issue No. 99-20 (the FSP). The FSP is the first new standard resulting from ...more
    Ernst & Young LLP (1/13/2009)
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  • ED Investments in debt instruments - proposed amendments to IFRS 7
    The International Accounting Standards Board (the Board) has just published an Exposure Draft (ED) to propose amendments to IFRS 7 Financial Instruments: Disclosures to require further disclosures for investments in debt instruments. The ED is part ...more
    Ernst & Young LLP (1/8/2009)
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  • Consolidated Financial Statements : Supplement to IFRS Outlook
    Significant changes are on the horizon for consolidated financial statements. An Exposure Draft (ED) (issued by the IASB) proposes new requirements, that could potentially impact all entities holding investments. The ED is the culmination of a lengthy ...more
    Ernst & Young LLP (1/7/2009)
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  • SEC Completes Study On Mark-To-Market Accounting
    On 30 December 2008, the Securities and Exchange Commission (SEC) delivered to Congress its statutorily mandated study of "mark-to-market" accounting (the Report). As required by the Emergency Economic Stabilization Act of 2008 (EESA or the Act) the ...more
    Ernst & Young LLP (1/6/2009)
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  • FASB Releases Proposed FSP Requiring Enhanced Disclosures for Certain Financial Assets
    On 24 December 2008, the Financial Accounting Standards Board (FASB) released for public comment Proposed FASB Staff Position (FSP) FAS 107-a, Disclosures about Certain Financial Assets: An Amendment of FASB Statement No. 107 (the "proposed ...more
    Ernst & Young LLP (12/29/2008)
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  • FASB Discusses Several Financial Instruments-related Topics at Its December 15, 2008 Board Meeting
    Formally Adds a Project to Its Agenda to Address Accounting for Financial Instruments. On December 12, 2008 the FASB posted the addition of an agenda item to its website to expeditiously address certain matters regarding the accounting for financial ...more
    Ernst & Young LLP (12/16/2008)
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  • FASB issues FSP on disclosures about transfers of financial assets and interests in variable interest entities
    On 11 December 2008, the FASB issued FASB Staff Position (FSP) FAS 140-4 and FIN 46(R)-8, Disclosure about Transfers of Financial Assets and Interests in Variable Interest Entities. This FSP applies only to public entities as defined. ...more
    Ernst & Young LLP (12/12/2008)
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  • 2008 International Financial Reporting Standards Update
    The International Accounting Standards Board's (IASB or Board) moratorium on issuing new standards and interpretations with an effective date between 1 January 2006 and 31 December 2008 is drawing to a close. This ''stable period'' was intended to help ...more
    Ernst & Young LLP (11/20/2008)
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  • Emerging Issues Task Force Reaches a Final Consensus on EITF Issue No. 08-8
    During its September 10, 2008 meeting the Emerging Issues Task Force (the "EITF" or "Task Force") reached a consensus-for-exposure on Issue No. 08-8, Accounting for an Instrument (or an Embedded Feature) with a Settlement Amount That is Based ...more
    Ernst & Young LLP (11/17/2008)
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  • SEC issues proposed roadmap for the potential use of IFRS in financial statements prepared by US issuers
    On 14 November 2008, the US Securities and Exchange Commission (SEC) issued its long awaited proposed ''Roadmap'' on the potential use of International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards ...more
    Ernst & Young LLP (11/15/2008)
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  • November 12, 2008 FASB Redeliberation of Proposed FSP FAS 140-e and FIN 46(R)-e
    FASB redeliberated significant issues raised by constituents in the comment letter process on proposed FSP FAS 140-e and FIN 46(R)-e, Disclosures about Transfers of Financial Assets and Interests in Variable Interest Entities (the ''Proposed FSP'') ...more
    Ernst & Young LLP (11/13/2008)
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  • Implementation Issues related to FASB Staff Position APB 14-1
    On 23 May 2008, we published a Hot Topic that provided an overview of significant provisions of FASB Staff Position APB 14-1, Accounting for Converting Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement...more
    Ernst & Young LLP (11/12/2008)
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  • SEC hosts roundtable on fair value accounting
    On 29 October 2008, the Securities and Exchange Commission (SEC) hosted the first of two roundtables to discuss fair value accounting and the recent period of market turmoil. The second roundtable is scheduled to be held on 21 November 2008. ...more
    Ernst & Young LLP (10/29/2008)
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  • FASB Issues Staff Position No. FAS 157-3, Determining the Fair Value of a Financial Asset When the Market for That Asset Is Not Active
    The Financial Accounting Standards Board, on October 10, 2008, issued Staff Position No. FAS 157-3, after an expedited public comment and redeliberation period that aimed to provide preparers and auditors timely and clarifying guidance on fair value ...more
    Ernst & Young LLP (10/13/2008)
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  • Recent Market Events : Accounting And Reporting Considerations
    Market events are having overarching effects on all industries and the economy as a whole. What started with concerns about subprime mortgage loans in the housing market has quickly led to further consolidation in the financial services industry. But ...more
    Ernst & Young LLP (10/7/2008)
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  • Auction rate securities and settlement agreements
    In February 2008, the market for auction rate securities (ARSs) effectively ceased when the vast majority of auctions failed, preventing investors from selling their ARSs. Until then, the ARS market had generally functioned in a manner to allow ...more
    Ernst & Young LLP (10/2/2008)
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  • Accounting considerations affecting derivatives with counterparties in financial distress
    The events of the past month on Wall Street have prompted numerous questions from companies who have derivative relationships with counterparties in various degrees of financial distress. That distress may range from widening credit ...more
    Ernst & Young LLP (10/2/2008)
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  • FASB releases exposure draft on amendment to FAS 140
    On 15 September 2008, the FASB released a Proposed Statement of Financial Accounting Standards, Accounting for Transfers of Financial Assets, an amendment of FASB Statement No. 140 (Proposed Statement). The Proposed Statement, which is a ...more
    Ernst & Young LLP (9/22/2008)
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  • Summary of Proposed Amendments to FIN 46(R)
    On 15 September 2008, the FASB issued a Proposed Statement of Financial Accounting Standards, Amendments to FASB Interpretation No. 46(R)(Proposed Statement). The Proposed Statement responds to concerns over the transparency ...more
    Ernst & Young LLP (9/18/2008)
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  • Financial Reporting Developments: FASB Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements, an amendment of ARB No. 51
    FASB Statement No. 141(R), Business Combinations (Statement 141(R)), and FASB Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements, an amendment of ARB No. 51 (Statement 160), will significantly change the accounting ...more
    Ernst & Young LLP (9/15/2008)
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  • Financial Reporting Developments: FASB Statement No. 161, Disclosures about Derivative Instruments and Hedging Activities
    In March 2008, the FASB issued Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities, an amendment of FASB Statement No. 133 (Statement 161) (together with Statement 133, referred to ...more
    Ernst & Young LLP (9/10/2008)
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  • FASB Issues Final Abstract of EITF Issue 07-5, Determining Whether an Instrument (or an Embedded Feature) is Indexed to an Entity's Own Stock
    Finally, after several months, the long-awaited final abstract of EITF Issue 07-5, Determining Whether an Instrument (or an Embedded Feature) Is Indexed to an Entity's Own Stock, has been posted to the FASB's wensite. The final abstract is substantially ...more
    Ernst & Young LLP (9/10/2008)
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  • On-Call Accounting Alert. EITF Added To Its Upcoming Meeting Agenda To Discusss EITF 08-8: Accounting For An Instrument
    At the upcoming September 10, 2008 EITF meeting, the EITF is scheduled to discuss EITS 08-8. The issue that is of focus in EITF 08-8 is the inconsistency between SFAS 160 and ...more
    Ernst & Young LLP (9/4/2008)
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  • Transitioning to IFRS : Overview of IFRS 1
    As the adoption of International Financial Reporting Standards (IFRS) becomes a more likely possibility in the United States, many US companies are beginning to think about what their initial financial statements will look like when they convert from ...more
    Ernst & Young LLP (8/27/2008)
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  • SEC proposes roadmap for IFRS adoption in the US
    On 27 August 2008, the SEC approved for public comment its long awaited proposed ''Roadmap'' related to the eventual use of International Financial Reporting Standards (IFRS) by US companies. The proposed Roadmap anticipates ...more
    Ernst & Young LLP (8/27/2008)
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  • Summary of FASB's Earnings per Share an amendment of FASB Statement No. 128
    On August 7, 2008 as part of a joint project with the IASB, the FASB exposed for comment, Earnings per Share, an amendment of FASB Statement No. 128 (the Statement), which is a revision of an exposure draft issued September 30, 2005. The purpose ...more
    Ernst & Young LLP (8/15/2008)
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  • SEC Advisory Committee on Improvements to Financial Reporting - Final Recommendations
    On 1 August 2008, the SEC Advisory Committee on Improvements to Financial Reporting (the Advisory Committee) delivered its Final Report (the Report) to the SEC. The Report contains twenty-five recommendations to improve financial reporting in five main ...more
    Ernst & Young LLP (8/11/2008)
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  • Supplement to IFRS Outlook: Hedging Portions of Risk
    Currently, IAS 39 permits the risks associated with a portion of the cash flows or fair value of a financial instrument to be designated as a hedged item. The IASB issued an amendment to IAS 39 Financial Instruments: Recognition and Measurement: ...more
    Ernst & Young LLP (8/8/2008)
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  • SEC roundtable - Performance of IFRS during the market turmoil
    On 4 August 2008, the United States Securities and Exchange Commission hosted a roundtable to discuss International Financial Reporting Standards and to update the Commission on IFRS developments, including the experience with the use of ...more
    Ernst & Young LLP (8/6/2008)
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  • FASB July 30, 2008 Meeting on Proposed SFAS 140 and FIN 46(R) Amendments
    Reversing a June 11, 2008 decision, the Board decided the Amendments' effective date will be the start of the first fiscal year beginning after November 15, 2009 (January 1, 2010 for calendar year-end companies) for all (i.e., existing and new) entities ...more
    Ernst & Young LLP (7/31/2008)
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  • SEC Hosts Fair Value Roundtable
    On July 9, 2008, the SEC hosted a roundtable to discuss fair value accounting and auditing standards. The roundtable was organized as two panels. The first panel discussed fair value accounting issues from the perspective of larger financial institutions  ...more
    Ernst & Young LLP (7/14/2008)
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  • GASB Statement No. 53 Accounting and Financial Reporting for Derivative Instruments
    GASB recently issued GASB Statement No. 53, Accounting and Financial Reporting for Derivative Instruments. Statement 53 is intended to improve how state and local governments report information about derivative instruments - financial ...more
    Ernst & Young LLP (7/10/2008)
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  • On-Call Accounting Alert: June 11, 2008 FASB Meeting on SFAS 140 Amendment
    At the June 11, 2008 FASB Board Meeting, the Board discussed whether a minimum third party investment in transferred financial assets should be required for the transfer to be accounted for as a SFAS 140 sale. ...more
    Ernst & Young LLP (6/23/2008)
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  • FASB Issues Proposal to Significantly Amend Statement 133 Hedging Activities
    On June 6, 2008, the FASB released Proposed Statement of Financial Accounting Standards, Accounting for Hedging Activities, an amendment of FASB Statement No. 133 (the "Proposed Statement"), for a comment period ending ...more
    Ernst & Young LLP (6/17/2008)
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  • Emerging Issues Task Force
    The EITF reached the following final consensuses, subject to ratification by the FASB at its 25 June 2008 meeting. The final consensuses are substantially consistent with the EITF's previous consensuses-for-exposure. ...more
    Ernst & Young LLP (6/17/2008)
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  • June 11, 2008 FASB Meeting on FIN 46(R) Amendment
    As discussed in detail below, the Board agreed on: 1. A revised approach for determining a variable interest entity's (''VIE'') primary beneficiary (''PB''), the party who consolidates the VIE, 2. Amendment effective data and transition provisions, ...more
    Ernst & Young LLP (6/13/2008)
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  • Reducing complexity in reporting financial instruments
    On 19 March 2008, the International Accounting Standards Board (IASB or Board) issued a Discussion Paper (DP) Reducing Complexity in Reporting Financial Instruments which explores possibilities for the replacement of IAS 39 Financial ...more
    Ernst & Young LLP (6/10/2008)
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  • FASB Issues Exposure Draft to Amend SFAS 133 for Simplifying Application of Hedge Accounting
    On June 6, 2008, the FASB issued an Exposure Draft of a proposed Statement of Financial Accounting Standards, Accounting for Hedging Activities - an amendment of FASB Statement No. 133 (the ''Exposure Draft''). The Exposure Draft proposes several ...more
    Ernst & Young LLP (6/10/2008)
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  • FASB Issues APB 14-1, Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)
    On May 9, 2008 the FASB issued FASB Staff Position APB 14-1, the FSP. The final guidance is substantially the same as the Exposure Draft that was issued in August 2007. The FSP requires the issuer to separately account for the liability and equity ...more
    Ernst & Young LLP (5/19/2008)
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  • May 14, 2008 FASB Education Session on SFAS 140 Amendment
    At the May 14, 2008 FASB Education Session, the Board discussed five questions the FASB Staff will present at the next Board Meeting scheduled for May 21st. The questions relate to the ...more
    Ernst & Young LLP (5/16/2008)
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  • April 9, 2008 FASB Board Meeting on FIN 46(R) Amendment
    FIN 46(R) provides that enterprises holding variable interests in potential variable interest entities (''VIE'') determine if the investees are VIEs and if the investor is a VIE's primary ...more
    Ernst & Young LLP (4/11/2008)
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  • FASB April 2, 2008 Board Meeting on SFAS 140 Amendments and Education Session on FIN 46(R) Amendments
    Matters discussed at FASB Board meetings are subject to issuance of proposed guidance (e.g., Exposure Draft) for comment prior to issuance of a final standard. Matters discussed at FASB Education Sessions do not result in Board decisions. Changes to the ...more
    Ernst & Young LLP (4/3/2008)
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  • March 27, 2008 FASB Education Sessions on SFAS 140 and FIN 46(R) Amendments
    Matters discussed at the Education Session (not attended by all Board members) are summarized below. Education Sessions do not result in Board decisions. Changes to the Staff's ...more
    Ernst & Young LLP (3/27/2008)
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  • Interest Rate Swaps and Debt with Embedded Interest Rate Re-set Option
    Many companies issue long-term variable-rate debt that provides them with an option for selecting the interest rate reset index (e.g., one-month, three-month, or six-month LIBOR, or the prime rate, or an ''Alternate Base Rate'' defined in ...more
    Ernst & Young LLP (3/25/2008)
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  • FASB Issues Statement No. 161, Disclosures about Derivative Instruments and Hedging Activities, an Amendment of FASB Statement No. 133
    On March 19, 2008, the FASB issued SFAS No. 161, Disclosures about Derivative Instruments and Hedging Activities, an Amendment of FASB Statement No. 133. SFAS 161 is intended to improve transparency in financial reporting by requiring enhanced ...more
    Ernst & Young LLP (3/20/2008)
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  • E&Y on the EITF: Summary of the March 12, 2008 Emerging Issues Task Force Meeting
    EITF Reaches a Final Consensus on Issue 07-4, "Application of the Two-Class Method under FASB Statement No. 128 to Master Limited Partnerships." The final consensus is consistent with the EITF's previous conclusion, with additional ...more
    Ernst & Young LLP (3/14/2008)
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  • January 16, 2008 FASB Discussion of Proposed Staff Position FSP FAS 140-d, ''Accounting for Transfers of Financial Assets and Repurchase Financing Transactions''
    The Proposed FSP addresses accounting for repurchase agreements related to previously transferred financial assets when the repo is between the same parties as the original transfer. In practice, many such repos have been accounted for ...more
    Ernst & Young LLP (1/17/2008)
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  • SEC Letter - Application of FAS 140 to Subprime ARM Loan Modifications
    On January 8, 2008, the Office of the Chief Accountant (OCA) of the Securities and Exchange Commission (SEC) issued a letter to The Center for Audit Quality (CAQ) and Financial Executives International (FEI) on the application of FASB Statement No. 140, ...more
    Ernst & Young LLP (1/10/2008)
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  • January 10, 2008 FASB Education Session: Proposed Staff Position FSP FAS 140-d, ''Accounting for Transfers of Financial Assets and Repurchase Financing Transactions''
    The Proposed FSP addresses accounting for repurchase agreement related to previously transferred financial assets when the repo is between the same parties as the original transfer. In practice, many such repos have been accounted for ...more
    Ernst & Young LLP (1/10/2008)
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  • FASB Approves FAS 133 DIG E23 Regarding the Interaction of SFAS 157 and the ''Short-Cut'' Method
    At the December 20, 2007 meeting, the FASB approved for issuance the two following clarifications permitting the use of the shortcut method of FASB Statement No. 133, Accounting for Derivative Instruments and Hedging Activities (Statement 133), as ...more
    Ernst & Young LLP (12/27/2007)
  •  
  • IFRS in the US-December 2007 SEC Roundtables Overwhelming Support Expressed for IFRS in the US
    On December 13 and 17, 2007, the United States Securities and Exchange Commission (SEC) held roundtable discussions to obtain feedback on whether public companies in the US should be permitted or required to file their consolidated financial statements ...more
    Ernst & Young LLP (12/21/2007)
  •  
  • FASB Discusses Derivative Disclosures Exposure Draft; Final Rule to be Issued Early 2008
    On December 5, 2007, the FASB continued its redeliberations of issues raised by respondents to the Exposure Draft, Disclosures about Derivative Instruments and Hedging Activities (''ED''). The following issues were discussed: ...more
    Ernst & Young LLP (12/13/2007)
  •  
  • Summary of FASB Statement No. 141(R), Business Combinations
    On December 4, 2007, the Financial Accounting Standards Board (FASB) issued Statement No. 141(R), Business Combinations (Statement 141(R)) and Statement No. 160, Accounting and Reporting of Noncontrolling Interests in Consolidated Financial ...more
    Ernst & Young LLP (12/12/2007)
  •  
  • Summary of FASB Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements, an amendment of ARB No. 51
    On December 4, 2007, the Financial Accounting Standards Board (FASB) issued Statement No. 141(R), Business Combinations (Statement 141(R)) and Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements, an amendment of ARB ...more
    Ernst & Young LLP (12/12/2007)
  •  
  • FASB Discusses Potential Approaches for Proceeding with FAS 140 Transfers Amendment Project
    At an Education Session held on December 5, 2007, the FASB continued its discussion of the proposed SFAS 140 Amendment Project. The Board discussed various approaches for proceeding with the project. ...more
    Ernst & Young LLP (12/6/2007)
  •  
  • Status of Proposed FSP APB 14-a- Convertible Debt Instruments
    On August 31, 2007, the FASB issued for comment Proposal FSB APB 14-a, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" for a 45-day comment period that ended on October 15, 2007 ...more
    Ernst & Young LLP (11/29/2007)
  •  
  • Financial Reporting Developments: FASB Statement No. 157, Fair Value Measurements
    In September 2006, the Financial Accounting Standards Board issued FASB Statement No. 157, Fair Value Measurements (the Statement or Statement 157) Statement 157 establishes a framework for measuring fair value under U.S. generally accepted ...more
    Ernst & Young LLP (11/21/2007)
  •  
  • FASB Discusses FASB Statement No. 157
    At the November 14, 2007 FASB meeting, the Board discussed several implementation issues related to FASB Statement No. 157, Fair Value Measurements (Statement 157). In a 4-3 vote, the Board reaffirmed its decision (from its October 17th meeting) ...more
    Ernst & Young LLP (11/16/2007)
  •  
  • SEC Votes to Drop Reconciliation Requirement for FPI's Using IFRS
    On November 15, 2007, the SEC voted unanimously, and effective immediately, to allow foreign private issuers (FPI's) to file financial statements prepared in accordance with International Financial Reporting Standards (IFRS) without reconciliation ...more
    Ernst & Young LLP (11/16/2007)
  •  
  • SEC in Focus
    A Periodic Newsletter Summarizing Current Activities and Regulatory Developments at the Securities and Exchange Commission. SEC Announces Completion of XBRL Taxonomy. Treasury Advisory Committee on the Auditing Profession Holds First Meeting.  ...more
    Ernst & Young LLP (11/1/2007)
  •  
  • FASB Discusses Fair Value Hedging Aspect of Hedge Accounting Project
    During the May 23, 2007 FASB Board meeting, the FASB Board members directed the staff to undertake a project to simplify the current hedge accounting model by developing a framework for fair value and cash flow hedges. During that meeting, Board members ...more
    Ernst & Young LLP (10/24/2007)
  •  
  • FAS 157 - Decision on Deferral
    At a highly anticipated October 17, 2007 FASB meeting, the Board discussed an agenda request to delay the effective date of FASB Statement No. 157, Fair Value Measurements ("FAS 157"). Constituents had expressed concern with ...more
    Ernst & Young LLP (10/17/2007)
  •  
  • 'Deal Contingent' Interest Rate Swaps and Associated Hedge Ineffectiveness
    Many companies that anticipate issuing debt if and only if a proposed business acquisition is successfully consummated have been attracted to a relatively new hedging product offered by many investment banks known as a "deal contingent swap." This product ...more
    Ernst & Young LLP (10/16/2007)
  •  
  • EITF Discusses EITF Issue 07-5, Determining Whether an Instrument (or an Embedded Feature) is Indexed to an Entity's Own Stock, at its September 11, 2007 Meeting
    In August 2007, the EITF Agenda Committee added to its agenda Issue No. 07-E, Consideration of Certain Terms in Derivative Contracts When Determining Whether an Instrument is Indexed to a Company's Own Stock ("Issue 07-E"). The Agenda Committee ...more
    Ernst & Young LLP (9/11/2007)
  •  
  • Lack of 'Sufficient Specificity' in Documenting the Hedged Forecasted Transactions in Cash Flow Hedges if More than One Rerivative is Part of the Hedge Strategy
    Through the comment letter process, the SEC staff has found a lack of "sufficient specificity" in the description of the hedged forecasted transaction in cash flow hedges, particularly when more than one hedging derivative is involved, ...more
    Ernst & Young LLP (9/6/2007)
  •  
  • Hot Topic: Proposed Clarification on the Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion
    The FASB has exposed for comment a clarification on the accounting for convertible debt instruments that may be settled in cash (including partial cash settlement) upon conversion (FASB Staff Position (FSP) APB 14-a). The proposed guidance ...more
    Ernst & Young LLP (9/5/2007)
  •  
  • Hot Topic: Proposed Clarifications on the Application of the Shortcut Method of FASB Statement 133
    The FASB has exposed for comment several clarifications for the appropriate use of Statement 133's "shortcut method" in proposed Statement 133 Implementation Issue E23, Issues Involving the Application of the Shortcut ...more
    Ernst & Young LLP (7/27/2007)
  •  
  • Accounting Alert: FASB to Change the Accounting for Convertible Debt Instruments That May be Settled in Cash upon Conversion
    During its July 25, 2007 meeting, the FASB discussed its preference of three alternatives proposed by the staff regarding the accounting for convertible debt ...more
    Ernst & Young LLP (7/25/2007)
  •  
  • Accounting Alert: FASB Discusses the Scope of Its Derivatives Disclosures Project
    The FASB discussed whether to expand the scope of its project on Derivatives Disclosures today it an Education Session, as well as some other aspects of the ...more
    Ernst & Young LLP (7/20/2007)
  •  
  • Accounting Alert: FASB Discusses Accounting for Convertible Debt Instruments
    The FASB discussed whether to add a project to its agenda to provide guidance on the accounting for convertible debt instruments that permit cash settlemt ...more
    Ernst & Young LLP (7/20/2007)
  •  
  • Hot Topic on EITF Topic D-109
    Determining the Nature of a Host Contract Related to a Hybrid Financial Instrument Issued in the Form of a Share under FASB Statement No. 133.  ...more
    Ernst & Young LLP (7/16/2007)
  •  
  • Hot Topic: IFRS - An Option for U.S. Issuers?
    Recently, there has been increased dialogue throughout the marketplace questioning whether U.S. GAAP will ultimately be replaced by International Financial ...more
    Ernst & Young LLP (6/25/2007)
  •  
  • FAS 140 - Transfers of Financial Assets
    At the May 30, 2007 FASB meeting, the Board discussed various approaches for proceeding with the FAS 140 Amendment Project. The following highlights ...more
    Ernst & Young LLP (5/30/2007)
  •  
  • Proposed FSP 140-3, Repurchase Financing Agreements
    At the May 8, 2007 Board meeting, the Board discussed how to apply FASB Statement No. 140, Accounting for Transfers and Servicing of Financial Assets ...more
    Ernst & Young LLP (5/30/2007)
  •  
  • Application of FIN 46(R) to Investment Companies
    The FASB staff yesterday issued FASB Staff Position No. FIN 46(R)-7, "Application of FASB Interpretation No. 46(R) to Investment Companies" (FSP 46(R)-7). ...more
    Ernst & Young LLP (5/18/2007)
  •  
  • FASB Discusses Proposed Implementation Issue on Application of Shortcut Method
    During the May 16 FASB Board meeting, the staff asked the Board whether it agrees with the scope of a practice issue identified by the staff regarding ...more
    Ernst & Young LLP (5/16/2007)
  •  
  • FASB Education Session on Short-cut Guidance and Potential Project on Hedge Accounting
    The Board and the staff discussed two hedge accounting related matters at the May 8 Education Session. The first topic pertained to the addition of ...more
    Ernst & Young LLP (5/10/2007)
  •  
  • FASB Discusses Phase 2 of FASM's Liabilities and Equity Project
    During the May 8 Board meeting, the staff presented two issues regarding Phase 2 of the Liabilities and Equity Project. The first issue related to ...more
    Ernst & Young LLP (5/10/2007)
  •  
  • FASB Discusses Transfers of Financial Assets and Related Repurchase Financing
    During the May 8 Board meeting, the staff asked the Board (i) whether it should provide guidance on transfers of financial assets when a transferor enters ...more
    Ernst & Young LLP (5/10/2007)
  •  
  • FASB Discusses Phase 2 of its Liabilities and Equity Project
    On May 2, the Board and the staff discussed certain aspects of Phase 2 of its project on Liabilities and Equity, including certain aspects of the ...more
    Ernst & Young LLP (5/8/2007)
  •  
  • May 2 Board Meeting on Derivatives Disclosures
    At the May 2 FASB meeting, the Board was asked by the staff to provide input on the following matters expressed in comment letters received regarding the ...more
    Ernst & Young LLP (5/8/2007)
  •  
  • Considerations in Connection with the Adoption of FASB Statement 159
    There has been considerable focus recently on the potential "opportunities" afforded to entities that elect to implement certain strategies as part ...more
    Ernst & Young LLP (5/1/2007)
  •  
  • March 15, 2007 EITF Meeting - SEC Remarks on Certain Hedge Accounting Relationships and Other Matters
    SEC Remarks on Collaborative Whitepaper Regarding Certain Hedge Accounting Relationships. The Deputy Cheif Accountant, James Kroeker, and ...more
    Ernst & Young LLP (3/19/2007)
  •  
  • March 15, 2007 EITF Meeting - Convertible Debt Instruments That Require or Permit Partial Cash Settlement upon Conversion
    At the March 15, 2007 meeting the EITF began to address Issue No. 07-2 regarding the accounting for Instruments C and ''X''(net share settled) convertible ...more
    Ernst & Young LLP (3/19/2007)
  •  
  • Statement 140, Transfer of Financial Assets and related Repurchase Financing
    At the March 14, 2007 Board meeting, the FASB discussed providing guidance for a transfer of financial assets that involves a repurchase financing by a ...more
    Ernst & Young LLP (3/15/2007)
  •  
  • Whether Embedded Conversion Options are Dual-Indexed
    At the March 14, 2007 meeting, FASB discussed matters related to the Proposed Statement 133 Implementation Issue - Whether Embedded Conversion Options Are Indexed to  ...more
    Ernst & Young LLP (3/15/2007)
  •  
  • Sale and Repo Financing with same Counterparty
    At the March 7, 2007 FASB education session, the question surrounding the accounting for the purchase of financial assets and simultaneous financing ...more
    Ernst & Young LLP (3/12/2007)
  •  
  • Inventory at Fair Value
    At the March 7, 2007 FASB education session, the Board discussed whether to add a short-term project to its agenda on providing guidance that would ...more
    Ernst & Young LLP (3/9/2007)
  •  
  • Big 4's Whitepaper on 2006 SEC Speech Regarding Certain Hedge Accounting Relationships
    The issues discussed in the attached whitepaper address certain questions that have arisen relating to the application of hedge accounting in ...more
    Ernst & Young LLP (3/6/2007)
  •  
  • FASB issues Statement No. 159, 'The Fair Value Option for Financial Assets and Liabilities'
    FASB Statement No. 159, The Fair Value Option for Financial Assets and Financial Liabilities, provides companies with an option to report ...more
    Ernst & Young LLP (2/20/2007)
  •  
  • Summary of January 31, 2007 FASB Board Meeting: Clarification of the Application of the Short-Cut Method
    At its January 31, 2007 meeting, the FASB proposed several clarifications to the infamous short-cut method of paragraph 68 of Statement 133, one of ...more
    Ernst & Young LLP (2/8/2007)
  •  
  • SEC Comments and Trends: An Analysis of Current Reporting Issues
    This publication summarizes selected issues recently commented on in SEC staff reviews, accompanied by a contextual discussion of these matters. ...more
    Ernst & Young LLP (1/24/2007)
  •  
  • SEC Staff Expresses Concerns about GAAP Compliance of Certain Fair Value Measurement
    "Fair value measurements" used in the financial statements may differ from "fair market values" as contemplated by valuation experts. The SEC ...more
    Ernst & Young LLP (1/5/2007)
  •  
  • SEC Staff Views on Quantification of Errors in the Assessment of Hedge Effectiveness
    The SEC staff also discussed its views of the evaluation that should take place if a hedge was subsequently determined not to have qualified for ...more
    Ernst & Young LLP (1/5/2007)
  •  
  • SEC Staff Discusses Application of Paragraphs 14-28 of EITF 00-19
    The SEC staff addressed the application of paragraphs 14-18 of EITF 00-19, which focus on the ability to deliver unregistered shares when settling ...more
    Ernst & Young LLP (1/5/2007)
  •  
  • FASB Education Session: Transfers of Financial Assets related to Repurchase Agreement
    At the December 20, 2006 FASB education session, the staff and Board discussed additional guidance on SFAS 140 paragraph 9 as it relates to ...more
    Ernst & Young LLP (1/3/2007)
  •  
  • FASB Board Meeting Summary, December 20, 2006. Fair Value Option Phase 1
    At the December 20, FASB meeting, the Board discussed certain disclosures in Phase 1 of the Fair Value Option (FVO) project and scope exception for ...more
    Ernst & Young LLP (12/26/2006)
  •  
  • Statement 133 Implementation Issue B40: Embeddd derivatives in securitized interests subject to prepayment risk
    At the December 20, 2006 FASB meeting, the staff presented the Board with a summary of the significant comments received on proposed Statement 133 ...more
    Ernst & Young LLP (12/26/2006)
  •  
  • FSB EITF 00-19b: Accounting for Registration Payment Arrangements
    On October 20, 2006, the FASB issued for comment a proposed FASB Staff Position (FSP) EITF 00-19-b, "Accounting for Registration Payment Arrangements" ...more
    Ernst & Young LLP (10/30/2006)
  •  
  • FASM Agrees to Scope Exception for Certain Prepayment Risk
    At the October 25, 2006 FASB Board meeting, the Board agreed (6-1) to expose for comment a draft Statement 133 Implementation Issue that would provide ...more
    Ernst & Young LLP (10/26/2006)
  •  
  • October 18, 2006 FASB Board Meeting on the Fair Value Option
    During the October 18, 2006 FASB Meeting, the Board re-deliberated certain issues of Phase 1 of the Fair Value Option ("FVO"), as follows: ...more
    Ernst & Young LLP (10/25/2006)
  •  
  • FASB's October 18 Meeting on Legal Isolation
    Transfers Project - Legal Isolation Criteria. At the October 18, 2006 FASB Meeting, a tentative decision was made to require the legal analysis ...more
    Ernst & Young LLP (10/24/2006)
  •  
  • Application of Statement 155 to Investor Accounting for Mortgage-Backed Securities (MBS) - Markets Are Concerned/FASB Asked to Analyze
    Banks, financial institutions, insurance companies, real estate companies, and others have become increasingly concerned in recent weeks about whether ...more
    Ernst & Young LLP (10/17/2006)
  •  
  • Cash Flow Hedge of Variable Rate Assets and Liabilities
    At the October 4, 2006 FASB meeting, the Board discussed whether to issue a Statement 133 Implementation Issue to clarify the accounting for a cash ...more
    Ernst & Young LLP (10/6/2006)
  •  
  • FASB's Sept. 20, 2006 Education Session on Permitted Activities of QSPE's
    At the September 20, 2006 FASB education session, the board discussed the following two approaches for clarifying activities permitted in QSPEs. ...more
    Ernst & Young LLP (9/21/2006)
  •  
  • FASB Issues Statement 157 on Fair Value Measurement
    On September 15, 2006 the FASB issued, FASB Statement No. 157 on fair value measurement. The standard provides guidance for using fair value to ...more
    Ernst & Young LLP (9/18/2006)
  •  
  • Clearance of AcSEC SOP and Application of FIN 46R to Investment Companies
    At the September 13, 2006 FASB meeting, the Board discussed the proposed clearance of AICPA Statement of Position (SOP), Clarification of the Scope of the ...more
    Ernst & Young LLP (9/15/2006)
  •  
  • FAS 133 Paragraph 29(c) - Hedging a Forecasted FX Debt Issuance
    At the August 16, 2006 FASB meeting, the Board discussed potential implementation guidance relating to paragraph 29(c) of Statement 133 with respect to ...more
    Ernst & Young LLP (8/29/2006)
  •  
  • Fair Value Measurement and Fair Value Option Projects
    On Wednesday, August 16, 2006, the FASB discussed the timing of issuance of its Fair Value Measurement (FVM) Statement and began re-deliberating the ...more
    Ernst & Young LLP (8/17/2006)
  •  
  • SEC Prohibits Use of Short-cut Method for Hedges Involving Trust Preferred Security
    The SEC has recently affirmed its interpretation that Statement 133 prohibits the use of paragraph 68's "short-cut method" for all fair value hedges ...more
    Ernst & Young LLP (8/4/2006)
  •  
  • FASB's July 26, 2006 Meeting on the SFAS 140 Amendment and Servicer Discretion
    At the July 26, 2006 FASB meeting, the FASB made decisions on which items and how such items in the SFAS 140 Amendment (Transfers Project) and the Servicer ...more
    Ernst & Young LLP (7/26/2006)
  •  
  • Summary of July 19, 2006 FASB Education Session on FAS 140 Exposure Draft
    On July 19, 2006 the FASB held an Education Session to discuss the Statement No. 140 Exposure Draft on transfers of financial assets as well as ...more
    Ernst & Young LLP (7/21/2006)
  •  
  • Proposed Statement on the Complex Structured Finance Activities of Financial Institutions
    On May 9, 2006 five federal agencies requested public comment on a revised proposed statement on the complex structured finance activities of financial institutions. ...more
    Ernst & Young LLP (5/12/2006)
  •  
  • FSP FAS 133-a and Fair Value Measurements
    At the May 3, 2006 Board meeting the FASB discussed significant issues raised by respondents to proposed FSP FAS 133-a, "Accounting for Unrealized Gains ...more
    Ernst & Young LLP (5/5/2006)
  •  
  • Summary of FASB Statement No. 156, Accounting for Servicing of Financial Assets, an Amendment of FASB Statement No. 140
    FASB Statement No. 156, 'Accounting for Servicing of Financial Assets, an amendment of FASB Statement No. 140', amends FASB Statement No. 140, 'Accounting for ...more
    Ernst & Young LLP (4/11/2006)
  •  
  • Summary of FASB's Statement of Financial Accounting Standards 155, ''Accounting for Certain Hybrid Financial Instruments - An Amendment of FASB Statements No. l33 and 140''
    This Statement amends FASB Statement No. 133, 'Accounting for Derivative Instruments and Hedging Activities', to require evaluation of all interests in securitized ...more
    Ernst & Young LLP (4/6/2006)
  •  
  • FASB Discussion Regarding Repeal of DIG Issue D-1
    The Board previously decided to repeal SFAS 133 Implementation Issue D-1, "Recognition and Measurement of Derivatives: Application of Statement 133 to Beneficial Interests in Securitized Financial Assets." ...more
    Ernst & Young LLP (12/27/2004)
  •  
  • FIN 46 -- Consolidation of Variable Interest Entities
    Ernst & Young LLP (2/1/2004)
  •  
  • 2003 AICPA National Conference on Current SEC Developments Compendium of Significant Accounting and Reporting Issues
    Ernst & Young LLP (12/19/2003)
  •  
  • FASB Discusses Proposed Modification of FIN 46 and Will Discuss Overall Deferral at Next Week's Meeting
    Ernst & Young LLP (12/11/2003)
  •  
  • FASB Agrees to Broad-Based Deferral of FIN 46
    FASB defers effective date of FIN 46 for variable interests held by public companies in all entities that were acquired prior to February 1, 2003. ...more
    Ernst & Young LLP (10/8/2003)
  •  
  • FASB To Propose Delay for Certain VIEs and Amendments to FIN 46
    Ernst & Young LLP (9/18/2003)
  •  
  • August 28, 2003 FASB Roundtable On SFAS 140 Amendment Exposure Draft
    Ernst & Young LLP (8/29/2003)
  •  
  • E&Y Alert - FASB Issues ED on QSPEs and Legal Isolation that Would Amend SFAS 140
    Ernst & Young LLP (6/16/2003)
  •  
  • FASB's QSPE discussion on May 27, 2003
    Ernst & Young LLP (5/28/2003)
  •  
  • April 22, 2003 FASB Discussion of QSPE Project
    Ernst & Young LLP (4/23/2003)
  •  
  • Tentative Conclusions Reached by FASB on QSPEs
    Ernst & Young LLP (4/10/2003)
  •  
  • Consolidation of Variable Interest Entities: A Summary of FASB Interpretation No. 46
    Ernst & Young LLP (4/10/2003)
  •  
  • Permissible QSPE Activities(FASB Mar. 26, 2003 Bd Meeting)
    Ernst & Young LLP (3/26/2003)
  •  
  • E&Y Alert - EITF Consensuses, Conclusions and Discussions
    Ernst & Young LLP (1/28/2003)
  •  
  • FASB Adds Project to Address Statement 140
    Ernst & Young LLP (1/28/2003)
  •  
  • FASB Discussion of Limited Scope Statement
    Ernst & Young LLP (1/28/2003)
     

     

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