EITF Snapshot for Sept 2009

  • EITF Snapshot Image

12 Sep 2009

We have posted the September 2009 edition of EITF Snapshot summarising the September 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 – Final consensus
  • Issue 08-9 Milestone Method of Revenue Recognition – No consensus reached. Further deliberations are expected at a future EITF meeting
  • Issue 09-2 Research and Development Assets Acquired in an Asset Acquisition – Consensus-for-exposure
  • Issue 09-3 Certain Arrangements That Include Software Elements – Final consensus
  • Issue 09-4 Seller Accounting for Contingent Consideration – No consensus reached. No further discussion expected
  • Issue 09-B Consideration of an Insurer's Accounting for Majority Owned Investments When the Ownership Is Through a Separate Account – Consensus-for-exposure
  • Issue 09-E Accounting for Distributions to Shareholders With Components of Stock and Cash in the Calculations and Presentation of Earnings per Share – 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.


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