EITF Snapshot for July 2010

  • EITF Snapshot Image

31 Jul 2010

We have posted the July 2010 edition of EITF Snapshot summarising the 29 July 2010 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.

This EITF Snapshot covers the following issue discussed by the EITF at the meeting:

  • Issue 09-G Accounting for Costs Associated With Acquiring or Renewing Insurance Contracts – Final consensus
  • Issue 09-H5 Health Care Entities: Revenue Recognition – No consensus reached
  • Issue 09-K Health Care Entities: Presentation of Insurance Claims and Related Insurance Recoveries – Partial consensus reached
  • Issue 09-L Health Care Entities: Measuring Charity Care for Disclosure – Final consensus
  • Issue 10-A How the Carrying Amount of a Reporting Unit Should Be Calculated When Performing Step 1 of the Goodwill Impairment Test – No consensus reached
  • Issue 10-B Accounting for Multiple Foreign Currency Exchange Rates – No consensus reached
  • Issue 10-C Accounting for Participant Loans in Employee Benefit Plan Financial Statements – Consensus-for-exposure
  • Issue 10-D Accounting for Certain Fees Associated With Recently Enacted Health Care Legislation – 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.

Past issues can be downloaded Here.

Correction list for hyphenation

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