FASB Issues Two ASUs in Response to EITF Consensuses
Published on:
05 Mar 2013
![Accounting Journal Entries Image]()
Recently, the FASB issued the following two ASUs in response to final consensuses reached at the EITF’s January meeting:
- Parent’s Accounting for the Cumulative Translation Adjustment Upon Derecognition of Certain Subsidiaries or Groups of Assets Within a Foreign Entity or of an Investment in a Foreign Entity.
- Obligations Resulting From Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date.
See Deloitte’s January 2013 EITF Snapshot for more information about the EITF Issues on which the ASUs are based.
