New FASB disclosures are effective immediately

  • Heads Up Image

17 Dec 2008

Deloitte (United States) has published a Heads Up newsletter discussing the FASB's recently released FSP FAS 140-4 and FIN 46(R)-8, which accelerates the requirement for public companies to provide disclosures that are similar to those proposed in pending amendments to Statement 140 and Interpretation 46(R).

This disclosure-only FSP improves the transparency of transfers of financial assets and an enterprise's involvement with variable interest entities, including qualifying special-purpose entities. Public companies are required to provide the new disclosures in their first reporting period (interim or annual) that ends after 15 December 2008. Click to download the Heads Up newsletter (PDF 166k).


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