Three FASB derecognition exposure drafts
16 Sep 2008
As part of its response to the 'credit crunch', the US Financial Accounting Standards Board has issued three separate but related exposure drafts (EDs) for public comment.
The proposed FASB Statements Accounting for Transfers of Financial Assets and Amendments to FASB Interpretation No. 46(R) address amendments to FASB Statement No. 140 Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, and to FASB Interpretation No. 46 (revised December 2003) Consolidation of Variable Interest Entities. Proposed FASB Staff Position FAS 140-e and FIN 46 (R)-e Disclosures about Transfers of Financial Assets and Interests in Variable Interest Entities addresses related disclosure requirements for public entities. Click for press release (PDF 16k). The proposals are available on FASB's Website.
