EITF Snapshot for September 2008
13 Sep 2008
We have posted the September 2008 edition of EITF Snapshot summarising the 10 September 2008 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 issues discussed by the EITF at the meeting:
- Issue 08-1 Revenue Recognition for a Single Unit of Accounting – tentative conclusion reached
- Issue 08-5 Issuer's Accounting for Liabilities Measured at Fair Value With a Third-Party Guarantee – final consensus
- Issue 08-6 Equity Method Investment Accounting Considerations – consensus-for-exposure
- Issue 08-7 Accounting for Defensive Intangible Assets – consensus-for-exposure
- Issue 08-8 Accounting for an Instrument (or an Embedded Feature) With a Settlement Amount That Is Based on the Stock of an Entity's Consolidated Subsidiary – consensus-for-exposure
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 Board for final ratification.
Click to view EITF Snapshot — September 2008 (PDF 177k).