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Other FASB Updates

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The document summarizes recent updates from the Financial Accounting Standards Board (FASB) including: 1) The FASB codification project which restructures accounting standards into a single online research system without changing GAAP. 2) Extensions of implementation dates for FIN 48 and other standards for non-public entities. 3) New standards on derivative instruments, convertible debt, intangible assets, collaborative arrangements, and other topics, many with enhanced disclosure requirements. Effective dates for these new standards generally begin after December 2008.

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MFA – Moody, Famiglietti & Andronico, LLP Copyright 2008.  Moody, Famiglietti & Andronico, LLP.  All Rights Reserved. Travis Drouin, CPA, CIA Partner November 19, 2008 FASB Updates
FASB Codification Project ,[object Object],[object Object],[object Object],[object Object]
FIN 48 – Accounting for Uncertainty in Income Taxes – An Interpretation of FASB Statement No. 109 ,[object Object],[object Object]
FIN 48 – Accounting for Uncertainty in Income Taxes – An Interpretation of FASB Statement No. 109 (Cont.) ,[object Object],[object Object]
FIN 48 – Accounting for Uncertainty in Income Taxes – An Interpretation of FASB Statement No. 109 (Cont.) ,[object Object],[object Object],[object Object]
FAS 161 – Disclosures about Derivative Instruments and Hedging Activities ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
FSP APB 14-1 – Accounting for Convertible Debt Instruments That May Be Settled in Cash Upon Conversion (Inc. Partial Cash Settlement) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
FSP FAS 140-3 – Accounting for Transfers of Financial Assets and Repurchase Financing Transactions ,[object Object],[object Object],[object Object],[object Object],[object Object]
FSP FAS 142-3 – Determination of the Useful Life of Intangible Assets ,[object Object],[object Object],[object Object],[object Object],[object Object]
FSP SOP 90-7-1 – Amendment of AICPA Statement of Position 90-7 ,[object Object],[object Object]
FSP EITF Issue No. 03-6-1 – Determining Whether Instruments Granted in Share-Based Payment Transactions are Participating Securities ,[object Object],[object Object],[object Object]
EITF Issue No. 07-1 – Accounting for Collaborative Arrangements ,[object Object],[object Object],[object Object],[object Object]
EITF Issue No. 07-5 - Determining Whether an Instrument (or Embedded Feature) is Indexed to an Entity’s Own Stock ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
EITF Issue No. 08-3 - Accounting by Lessees for Nonrefundable Maintenance Deposits ,[object Object],[object Object],[object Object],[object Object],[object Object]
EITF Issue No. 08-4 ,[object Object],[object Object],[object Object],[object Object],[object Object],Transition Guidance for Conforming Changes to EITF Issue No. 98-5, Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios
Questions, Answers and Closing
MFA – Moody, Famiglietti & Andronico, LLP ,[object Object]

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