Action Alert No. 02-38
October 9, 2002
NOTICE OF MEETINGS
OPEN BOARD MEETING
Wednesday, October 16, 2002, 9:00 a.m.
- Consolidation of certain special-purpose entities. The Board will continue redeliberations of the provisions of the proposed FASB Interpretation, Consolidation of Certain Special-Purpose Entities. The Board will discuss identification of special-purpose entities, variable interests, and related matters. (Estimated 90-minute discussion.)
- Financial instruments: liabilities and equity. The Board will discuss issues related to earnings per share. The Board also will consider a summary of decisions reached to date, including a comparison of those decisions with current and proposed International Accounting Standards. (Estimated 30-minute discussion.)
- Financial instruments: replacement of Statement 107. The Board will discuss options for presentation of changes in the fair value of financial instruments in the notes to financial statements. (Estimated 60-minute discussion.)
- Open discussion. If necessary, the Board will allow time to discuss minor issues with staff members on technical projects or administrative matters. Those discussions are held following regular Board meetings as topics come up.
OPEN EDUCATION SESSION
Wednesday, October 16, 2002, 8:00 a.m., preceding the Board meeting
The Board will hold an education, non-decision-making session to discuss topics that are anticipated to be discussed at a subsequent Board meeting. Updated 10/11/02—Liabilities and Equity will be discussed.
OPEN MEETING WITH REPRESENTATIVE OF THE NATIONAL INVESTOR RELATIONS INSTITUTE
Thursday, October 17, 2002, 10:00 a.m.
The Board will meet with the Senior Roundtable Steering Committee of the National Investor Relations Institute to discuss matters of mutual interest.
BOARD ACTIONS
The Board Actions are provided for the information and convenience of constituents who want to follow the Board’s deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions are included in an Exposure Draft for formal comment only after a formal written ballot. Decisions in an Exposure Draft may be (and often are) changed in redeliberations based on information provided to the Board in comment letters, at public hearings, and through other communication channels. Decisions become final only after a formal written ballot to issue a final Statement or Interpretation.
October 2, 2002 Board Meeting
Agenda decision: international convergence. The Board added to its agenda a short-term international convergence project that will be conducted jointly with the International Accounting Standards Board (IASB). The Board also authorized the staff to continue to expand its research project on international convergence. With respect to the short-term project, the Board established a goal of December 31, 2003 for issuance of a final Statement that would eliminate or reduce many, if not all, of the differences to be addressed in that project.
Open discussions. The Board discussed the following projects at the open discussion segment of the Board meeting:
- Revenue recognition. The Board decided to conduct its project on revenue recognition jointly with the IASB. The FASB will lead that joint project.
- Principles-based standards. The Board confirmed that it would hold an open roundtable discussion with respondents to the principles-based standards proposal on December 16, 2002.
FASB DOCUMENT ISSUED
The Board issued the FASB Exposure Draft, Accounting for Stock-Based Compensation—Transition and Disclosure, on October 4, 2002. Comments are requested by November 4, 2002. That Exposure Draft is being distributed primarily through the FASB website or you can receive a printed copy by calling the FASB Order Department at 1-800-748-0659.
FUTURE OPEN MEETINGS
The following is a list of open meetings tentatively scheduled through November. Because schedules may change, please check the FASB calendar of meetings on this website before finalizing your plans. Revisions to this list since the last issue of Action Alert are highlighted in bold.
Wednesday, October 23, 2002—No FASB Board Meeting
Wednesday, October 23, 2002—FASB Education Session
Friday, October 25, 2002—Emerging Issues Task Force Meeting
Wednesday, October 30, 2002—FASB Board Meeting
Wednesday, October 30, 2002—FASB Education Session
Wednesday, November 6, 2002—FASB Board Meeting
Wednesday, November 13, 2002—FASB Education Session
Wednesday, November 20, 2002—FASB Board Meeting
Wednesday, November 20, 2002—EITF Meeting
Thursday, November 21, 2002—EITF Meeting
Friday, November 22, 2002—FASB Education Session
Wednesday, November 27, 2002—FASB Board Meeting
Wednesday, November 27, 2002—FASB Education Session
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