FASB issues two new proposed ASUs resulting from the July EITF meeting
25 Aug 2010
The FASB has released two new proposed Accounting Standards Updates (ASUs). The proposals result from the July meeting of FASB's Emerging Issues Task Force. The comment period for both proposals closed on 8 October 2010. Both proposed ASUs note there is no equivalent guidance under IFRS on the topics with which they deal.
Click for:
- Proposed Accounting Standards Update – Health Care Entities (Topic 954): Accounting for Legal Costs Associated with Medical Malpractice and Similar Claims (a consensus of the FASB Emerging Issues Task Force) (link to FASB website)
- Proposed Accounting Standards Update – Other Expenses (Topic 720): Fees Paid to the Federal Government by Pharmaceutical Manufacturers (a consensus of the FASB Emerging Issues Task Force) (link to FASB website)
More information about the proposals can be found in EITF Snapshot (PDF 130k), which summarises the 29 July 2010 EITF meeting.
