EITF Snapshot for June 2009
22 Jun 2009
We have posted the June 2009 edition of EITF Snapshot summarising the 18 June 2009 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 08-1 Revenue Arrangements With Multiple Deliverables – Consensus-for-exposure
- Issue 08-9 Milestone Method of Revenue Recognition – Tentative conclusions reached
- Issue 09-1 Accounting for Own-Share Lending Arrangements in Contemplation of Convertible Debt Issuance – Final consensus
- Issue 09-2 Research and Development Assets Acquired in an Asset Acquisition – No consensus reached. Further deliberations are expected at a future EITF meeting
- Issue 09-3 Applicability of SOP 97-2 to Certain Arrangements That Include Software Elements – Consensus-for-exposure
- Issue 09-4 Seller Accounting for Contingent Consideration – No decision reached. Further deliberations are expected at a future EITF meeting
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 for the June 2009 Edition.
