EITF Snapshot for November 2010

  • UK Accounting Plus Image

22 Nov, 2010

We have posted the November 2010 edition of EITF Snapshot summarising the 19 November 2010 meeting of FASB's Emerging Issues Task Force.

EITF Snapshot, published by Deloitte & Touche LLP (USA), enables readers to identify relevant topics and to understand quickly the meeting's outcome. Past issues can be downloaded Here.

This EITF Snapshot covers the following issue discussed by the EITF at the meeting:

  • Issue 09-H Health Care Entities: Revenue Recognition – Final consensus
  • Issue 10-A How the Carrying Amount of a Reporting Unit Should Be Calculated When Performing Step 1 of the Goodwill Impairment Test – Final consensus
  • Issue 10-D Fees Paid to the Federal Government by Pharmaceutical Manufacturers – Final consensus on one issue; consensus-for-exposure on a second issue
  • Issue 10-E Accounting for Deconsolidation of a Subsidiary That Is In-Substance Real Estate – No consensus reached
  • Issue 10-F Accounting for Legal Costs Associated With Medical Malpractice and Similar Claims – No consensus reached
  • Issue 10-G Disclosure of Supplementary Pro Forma Information for Business Combinations – Final consensus

Initial EITF consensuses (known as 'consensuses-for-exposure') are exposed for a comment period after ratification by the FASB. At its first scheduled meeting after the comment period, the EITF considers comments received and, as warranted, affirms its consensuses-for-exposure as final consensuses. Those consensuses are then provided to the FASB for final ratification.

Click for EITF Snapshot — November 2010 (PDF 104k).

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.