FASB Developments

• FASB Revises Business Combination and Noncontrolling Interests Accounting
• FASB, FAF, and AICPA Support Transition of U.S. Public Companies to Accounting Standards Set by One Global Standard Setter
• FASB Proposes to Delay Effective Date of Interpretation 48, Uncertain Tax Positions, for Private Entities
• FASB Proposes to Partially Defer Fair Value Statement 157, Considers Implementation Issues
• FASB Proposes FSP to Exclude Leases From Scope of Fair Value Statement 157 and Revises Lease Accounting's Fair Value Definition
• FASB Proposes FSP for Indefinite Deferral of SOP 07-1 Affecting Investment Company Accounting
• FASB Proposes FSP Amending the Factors Considered in Determining an Intangible Asset's Useful Life
• FASB Issues Proposal to Simplify and Improve Reporting for Financial Instruments With Characteristics of Equity

• EITF Issue No. 07-1 Accounting for Collaborative Arrangements
• EITF Issue No. 07-4 Application of the Two-Class Method Under FASB Statement No. 128, Earnings per Share, to Master Limited Partnerships
• EITF Issue No. 07-5 Determining Whether an Instrument (or an Embedded Feature) Is Indexed to an Entity's Own Stock
• EITF Issue No. 07-6 Accounting for the Sale of Real Estate Subject to the Requirements of FASB Statement No. 66, Accounting for Sales of Real Estate, When the Agreement Includes a Buy-Sell Clause
• EITF Discusses FASB's Approach for Updating Issue No. 98-5, Accounting for Convertible Securities With Beneficial Conversion Features or Contingently Adjustable Conversion Ratios

• SEC Removes Reconciliation Requirement, Approves Rules for Smaller Public Companies
• SEC Issues SAB Providing Views About Written Loan Commitments Accounted for at Fair Value
• SEC Proposes Mandatory Electronic Submission of Certain Investment Company Applications and Filings
• SEC Approves Amendments to PCAOB Rules Governing Inspection Frequency
• SEC Seeks Feedback Regarding Web-Based Tools Used to Access Public-Company Disclosures About Business Activities in or With Countries Identified as State Sponsors of Terrorism
• SEC Appoints Wayne Carnall as Chief Accountant of the Division of Corporation Finance

• GASB Issues Statement No. 52 Land and Other Real Estate Held as Investments by Endowments

• IASC Announces Governance Proposals to Enhance Its Public Accountability