News Releases
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All media inquiries regarding FAF, FASB and GASB are coordinated through the FAF Communications Department.
Christine L. Klimek
Senior Manager
Media Relations & Executive Communications
(203) 956-3459
clklimek@f-a-f.org
John C. Pappas
Senior Manager
Media Relations & Constituent Communications
(203) 956-3440
jcpappas@f-a-f.org
Fax: 203-849-9714
401 Merritt 7, PO Box 5116
Norwalk, CT 06856
The following announcements were issued as noted by the Financial Accounting Standards Board and the Financial Accounting Foundation. To obtain FASB publications mentioned in the news releases below, see Ordering FASB Publications and Subscriptions.
Representatives of the Accounting Standards Board of Japan and the Financial Accounting Standards Board Hold Biannual Meeting
February 10, 2012
IASB and FASB Seek to Reduce Differences in Classification and Measurement Models for Financial Instruments
January 27, 2012
FASB Publishes Proposal for Impairment of Indefinite-Lived Intangible Assets
January 25, 2012
U.S. GAAP Financial Reporting Taxonomy Now Available
January 18, 2012
FASB Defers Certain Aspects of Comprehensive Income Accounting Standards Update
December 23, 2011
Media Advisory—The FASB Announces Public Roundtable Meetings to Solicit Input on Proposal to Improve Accounting for Investment Companies and Proposal on Investment Property Entities
December 21, 2011
IASB and FASB Issue Common Offsetting Disclosure Requirements
December 16, 2011
Financial Accounting Foundation Names Bank of America’s Charles H. Noski as Chairman of the Financial Accounting Standards Advisory Council
December 5, 2011
Registration Opens for December 8 Webcast, IN FOCUS: Understanding the Exposure Draft, Revenue from Contracts with Customers
December 1, 2011
Registration Opens for December 20 Webcast, IN FOCUS: FASB Update for Nonpublic Entities
November 30, 2011
FASB Chairman Adds an Agenda Project on Fair Value Measurement Disclosures for Private Companies and Not-for-Profit Organizations
November 29, 2011
Financial Accounting Foundation Appoints Thirteen New Members to the Financial Accounting Standards Advisory Council
November 18, 2011
Registration Is Now Open for November 28 Webcast, IN FOCUS: Understanding the FASB’s Proposals for Investment Companies, Investment Property Entities, and Consolidations
November 17, 2011
Financial Accounting Foundation Appoints Three New Members to Its Board of Trustees
November 16, 2011
The Financial Accounting Foundation Reappoints Russell Golden and Lawrence Smith to Second Terms on the FASB
November 15, 2011
IASB and FASB Publish Revised Proposal for Revenue Recognition
November 14, 2011
FASB Chairman Adds Two Agenda Projects to Improve Financial Reporting by Not-for-Profit Organizations
November 9, 2011
FASB Seeks Comments on Proposal to Defer Changes to Presentation of Reclassification of Other Comprehensive Income on Financial Statements
November 8, 2011
FASB Seeks Comments on Proposal for Improving Financial Reporting of Consolidations
November 4, 2011
FASB Seeks Comments on Proposal on Accounting for Investment Property Entities
October 21, 2011
FASB Seeks Comments on Proposal to Clarify Criteria for Investment Company
October 21, 2011
FASB Seeks Comments on Proposed Technical Corrections to Codification
October 14, 2011
Media Advisory—FASB Adds Agenda Project to Consider Deferring Certain Aspects of Accounting Standards Update No. 2011-05
October 12, 2011
FASB Not-for-Profit Advisory Committee Recommends Improvements to Financial Reporting
October 3, 2011
Media Advisory—FASB Issues Accounting Standards Update to Improve Employer Disclosures for Multiemployer Pension Plans
September 21, 2011
Media Advisory—Registration Is Now Open for October 4 Webcast, IN FOCUS: Summary of Changes for the Proposed 2012 Taxonomy and Using XBRL Tables
September 19, 2011
Media Advisory—FASB Issues Accounting Standards Update to Simplify Testing Goodwill for Impairment
September 15, 2011
Deadline to Register for FASB Public Roundtable Meetings on Private Company Accounting and Reporting Issues is Tuesday, September 13
September 12, 2011
2012 U.S. GAAP Financial Reporting Taxonomy Now Available for Public Review and Comment
September 1, 2011
Representatives of the Accounting Standards Board of Japan and the Financial Accounting Standards Board Hold Biannual Meeting
August 26, 2011
FASB Approves Standard to Simplify Testing Goodwill for Impairment
August 10, 2011
Financial Accounting Standards Board Announces Public Roundtable Meetings to Solicit Input on Private Company Accounting and Reporting Issues
August 4, 2011
FASB Improves Employer Disclosures for Multiemployer Pension Plans
July 27, 2011
IASB and FASB Announce Intention to Re-Expose Leasing Proposals
July 21, 2011
Financial Accounting Standards Board Launches Website Portal for Nonpublic Entities
June 29, 2011
FASB Issues Accounting Standards Update to Improve Presentation of Comprehensive Income
June 16, 2011
IASB and FASB to Re-Expose Revenue Recognition Proposals
June 15, 2011
Financial Accounting Standards Board Launches New Taxonomy Online Review and Comment System
June 14, 2011
Media Advisory—Registration Is Now Open for June 22 Webcast, IN FOCUS: How to Use the XBRL 2011 US GAAP Financial Reporting Taxonomy
June 8, 2011
Media Advisory—Registration Is Now Open for June 17 Webcast, IN FOCUS: FASB Update for Nonpublic Entities
June 2, 2011
Financial Accounting Standards Board Launches IN FOCUS: WEBCAST Educational Webcast Series with CPE Credit
June 1, 2011
FASB and IASB Issue Common Fair Value Measurement and Disclosure Requirements
May 12, 2011
Financial Accounting Foundation to Discuss Next Steps in Post-Implementation Review Process in May 20 Webcast
May 12, 2011
FASB Issues Accounting Standards Update to Improve Financial Reporting of Repurchase Agreements
April 29, 2011
FASB Issues Proposed Accounting Standards Update on Testing Goodwill for Impairment
April 22, 2011
IASB and FASB Report Substantial Progress Towards Completion of Convergence Program
April 21, 2011
FASB Issues Accounting Standards Update to Improve Financial Reporting about Troubled Debt Restructurings
April 5, 2011
Media Advisory—Financial Accounting Standards Board Announces Joint FASB/IASB Public Roundtable Meetings on Proposed Standard on Offsetting
March 17, 2011
Media Advisory—Financial Accounting Foundation Announces Live Video Webcasting of FASB Education Sessions
March 7, 2011
Financial Accounting Foundation Outlines Plans to Address Standard Setting for Nonpublic Entities
March 4, 2011
Media Advisory—2011 U.S. GAAP Financial Reporting Taxonomy Adopted and Supported by SEC Effective February 28, 2011
March 1, 2011
Media Advisory—Register Now for FASB February 24 Webcast, XBRL 2011 Taxonomy Overview
February 22, 2011
The Financial Accounting Foundation Reappoints Thomas J. Linsmeier To a Second Term on the FASB
February 17, 2011
Media Advisory—FASB to Host February 24 Webcast, XBRL 2011 Taxonomy Overview
February 14, 2011
Representatives of the Accounting Standards Board of Japan and the Financial Accounting Standards Board Meet to Discuss Global Convergence
February 11, 2011
FASB Discussion Paper Seeks Input on Issues about Hedge Accounting
February 9, 2011
IASB and FASB Propose Common Solution for Impairment Accounting—Boards Jointly Address Fundamental Aspect of Financial Instruments Accounting
January 31, 2011
IASB and FASB Propose to Align Balance Sheet Netting Requirements—Differences in IFRS and US GAAP Offsetting Requirements to be Eliminated
January 28, 2011
Blue-Ribbon Panel Addressing Standards for Private Companies Submits Report of Recommendations to Financial Accounting Foundation
January 26, 2011
FAF President and CEO Teresa S. Polley Launches Interactive Online News Column—“From the President’s Desk”—to Enhance Constituent Communication
January 20, 2011
Media Advisory—Registration Is Now Open for January 25 Webcast, 2011 Chairman’s Outlook on the FASB with Leslie F. Seidman
January 19, 2011
U.S. GAAP Financial Reporting Taxonomy Now Available
January 18, 2011
Financial Accounting Foundation Appoints Daryl E. Buck and R. Harold Schroeder to the Financial Accounting Standards Board
January 14, 2011
Media Advisory—FASB to Host January 25 Webcast, 2011 Chairman’s Outlook on the FASB with Leslie F. Seidman
January 14, 2011
Susan M. Cosper Named Technical Director of the Financial Accounting Standards Board
January 10, 2011
Financial Accounting Foundation Appoints Leslie F. Seidman Chairman of the Financial Accounting Standards Board
December 23, 2010
Statement by John J. Brennan, Chairman, Financial Accounting Foundation Board of Trustees
December 20, 2010
Financial Accounting Foundation Launches Live Video Webcasting of FASB Meetings
December 7, 2010
NIRI Investor Relations Update Magazine, December 2010, Common Language: Converging Accounting Standards
Media Advisory—Private Company Financial Reporting Committee to meet Dec. 2-3 in Norwalk, Connecticut
November 30, 2010
FASB Exposure Draft Seeks Input on Transfers and Servicing (Topic 860): Reconsideration of Effective Control for Repurchase Agreements
November 3, 2010
FASB Discussion Paper Seeks Input on Effective Dates and Transition Methods
October 19, 2010
Media Advisory—Financial Accounting Standards Board Announces Joint FASB/IASB Public Roundtable Meetings on Insurance Contracts
October 15, 2010
Media Advisory—Financial Accounting Standards Board Announces Public Roundtable Meetings to Solicit Input on Proposal to Improve Lease Accounting
October 14, 2010
FASB Issues Proposed Accounting Standards Update to Improve Financial Reporting about Troubled Debt Restructurings
October 12, 2010
FASB Announces Changes to the Schedule of Public Roundtables to Solicit Input on the IASB Staff Draft on Consolidated Financial Statements
October 11, 2010
Blue-Ribbon Panel Addressing Standards for Private Companies Weighs GAAP with Exceptions and a Separate Standards Board
October 8, 2010
Media Advisory—Financial Accounting Standards Board Announces Public Roundtable Meetings to Solicit Input on Proposal to Improve Revenue Recognition
September 30, 2010
IASB and US FASB Complete First Stage of Conceptual Framework
September 28, 2010
Media Advisory—FASB Announces Public Roundtable Meetings to Solicit Input on the IASB Staff Draft on Consolidated Financial Statements
September 23, 2010
FASB Discussion Paper Seeks Input on Improving the Financial Reporting for Insurance Contracts
September 17, 2010
Financial Accounting Foundation Appoints Russell G. Golden to the Financial Accounting Standards Board
September 17, 2010
Media Advisory—Financial Accounting Standards Board Announces Public Roundtable Meetings to Solicit Input on Private Company Accounting and Reporting Issues
September 13, 2010
Media Advisory—FASB Announces Series of Public Roundtables to Solicit Input on Proposal for Accounting for Financial Instruments and Other Proposed Standards
September 10, 2010
Media Advisory—Clarification About Amendments to the Accounting Standards Codification
September 3, 2010
FASB Issues Proposed Accounting Standards Update to Improve Disclosure about Entities Participating in Multiemployer Plans
September 1, 2010
2011 U.S. GAAP Financial Reporting Taxonomy Now Available for Public Review and Comment
August 31, 2010
Financial Accounting Foundation to Increase Size of FASB;
FASB Chairman Herz to Retire After More Than Eight Successful Years
August 24, 2010
FASB Extends Comment Period for Disclosure of Certain Loss Contingencies Exposure Draft
August 18, 2010
IASB and US FASB Publish Proposals to Improve the Financial Reporting of Leases
August 17, 2010
Representatives of the Accounting Standards Board of Japan and the U.S. Financial Accounting Standards Board Meet to Discuss Global Convergence
August 16, 2010
FASB Issues Accounting Standards Update No. 2010-20, Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses
July 21, 2010
FASB Issues Proposed Accounting Standards Update on Amendments for Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs
June 29, 2010
IASB and FASB Propose a New Joint Standard for Revenue Recognition
June 24, 2010
FASB Issues Exposure Draft on Accounting for Financial Instruments
May 26, 2010
FASB Announces Members of Not-for-Profit Advisory Committee
May 18, 2010
AICPA/FAF/NASBA "Blue-Ribbon" Panel on Standard Setting for Private Companies to Host Second Meeting on Friday, May 14
May 11, 2010
FAF/FASB and XBRL US Labs Announce Research Initiative
April 23, 2010
IASB and FASB Quarterly Report Shows Continued Progress Towards Convergence Goal
April 14, 2010
FASB Chairman Robert H. Herz and IASB Chairman Sir David Tweedie to Discuss Global Accounting Issues at The George Washington University
March 31, 2010
FASB and IASB Issue Exposure Draft on the Reporting Entity Concept
March 11, 2010
Statement by the Financial Accounting Foundation and the Financial Accounting Standards Board Regarding the SEC's Commission Statement in Support of Convergence and Global Accounting Standards
February 26, 2010
AICPA/FAF/NASBA Announce Members of "Blue-Ribbon Panel" to Address Standards for Private Companies
February 26, 2010
Financial Accounting Foundation to Maintain XBRL Taxonomy for U.S. GAAP
February 5, 2010
Rick Anderson Appointed Chairman of AICPA/FAF/NASBA "Blue-Ribbon Panel" to Address Standards for Private Companies
January 11, 2010
The American Institute of Certified Public Accountants and the Financial Accounting Foundation Form "Blue-Ribbon Panel" to Address Standards for Private Companies
December 17, 2009
Financial Accounting Foundation Appoints New Members to the Financial Accounting Standards Advisory Council
December 10, 2009
IASB and FASB Reaffirm Commitment to Memorandum of Understanding
November 5, 2009
Accounting Standards Board of Japan Meets with Financial Accounting Standards Board to Discuss Global Convergence
October 22, 2009
FASB Establishes Not-for-Profit Advisory Committee
October 22, 2009
FASB to Host October 15 Webcast on The Investor: An Important Voice in Standard Setting
October 8, 2009
FASB Accounting Standards CodificationTM Now Provides Users with Information about Related XBRL Elements
October 5, 2009
Media Advisory—Clarification of the effective date interaction between Topic 740 relating to accounting for uncertainty in income taxes (formerly FIN 48) and the guidance in ASU 2009-06, Income Taxes (Topic 740)—Implementation Guidance on Accounting for Uncertainty in Income Taxes and Disclosure Amendments for Nonpublic Entities
October 1, 2009
Financial Accounting Foundation Endorses Statement of the International Accounting Standards Committee Foundation Monitoring Board
September 22, 2009
August 28, 2009
FASB Initiates "Disclosure Framework" Project Aimed at More Useful, Organized, and Consistent Disclosures
July 8, 2009
FASB Accounting Standards CodificationTM Launches Today—The Codification is now officially the single source of authoritative nongovernmental U.S. GAAP
July 1, 2009
FASB Issues Exposure Draft on Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses
June 24, 2009
FASB Chairman Robert Herz to Address the National Press Club in Washington, DC on June 26
June 18, 2009
FAF Announces FASB Accounting Standards CodificationTM Packages and Pricing:
- Access to the FASB Accounting Standards Codification™ on July 1, 2009
- FAF and AAA to Provide FASB Codification to Faculty and Students
FASB Issues Statements 166 and 167 Pertaining to Securitizations and Special Purpose Entities
June 12, 2009
FASB Accounting Standards CodificationTM to Officially Launch on July 1, 2009
June 3, 2009
FASB Issues Statement No. 165, Subsequent Events
May 28, 2009
FASB Issues Statement No. 164, Not-for-Profit Entities: Mergers and Acquisitions
May 22, 2009
Additional Briefing Document Regarding 5/18/09 FASB Decisions about FAS 140 and FIN 46(R)
May 18, 2009
FASB Issues Final Staff Positions to Improve Guidance and Disclosures on Fair Value Measurements and Impairments
April 9, 2009
IASB and FASB Announce Further Steps in Response to Global Financial Crisis
March 24, 2009
IASB and FASB Launch Public Consultation on a Future Standard on Lease Accounting
March 19, 2009
FASB Issues Proposals to Improve Guidance on Fair Value Measurements and Impairments
March 17, 2009
Accounting Standards Board of Japan Meets with Financial Accounting Standards Board to Discuss Global Convergence
March 13, 2009
FASB Chairman Robert H. Herz Testifies on Mark-to-Market Accounting
March 12, 2009
FASB Initiates Projects to Improve Measurement and Disclosure of Fair Value Estimates
February 18, 2009
John J. Brennan Elected Chairman of the Financial Accounting Foundation
February 12, 2009
Financial Accounting Foundation Appoints Jeffrey Diermeier, Cynthia Eisenhauer, and Dennis Kass to its Board of Trustees
February 12, 2009
FASB Issues Staff Position FIN 48-3, Effective Date of FASB Interpretation No. 48 for Certain Nonpublic Enterprises
December 30, 2008
IASB and FASB Announce Membership of Financial Crisis Advisory Group
December 30, 2008
FASB Issues Proposed Staff Position to Improve the Financial Reporting for Financial Instruments
December 24, 2008
FASB Issues First of Two Proposed Staff Positions to Improve the Financial Reporting for Financial Instruments
December 19, 2008
IASB and FASB Propose Joint Approach for Revenue Recognition
December 19, 2008
FASB Issues Proposed FASB Staff Position FAS 141(R)-a, Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies
December 15, 2008
FASB Issues FSP FAS 140-4 and FIN 46(R)-8, Disclosures by Public Entities (Enterprises) about Transfers of Financial Assets and Interests in Variable Interest Entities
December 11, 2008
FASB Accounting Standards CodificationTM Expected to Officially Launch on July 1, 2009
December 4, 2008
Accounting Standards Board of Japan Meets with Financal Accounting Standards Board
December 1, 2008
FASB to Issue FSP FAS 140-4 and FIN 46(R)-8, Disclosures about Transfers of Financial Assets and Interests in Variable Interest Entities, by December 15, 2008
November 21, 2008
Hans Hoogervorst and Harvey Goldschmid to Co-Chair Advisory Group Considering Financial Reporting Issues Arising from Global Economic Crisis
November 14, 2008
IASB and FASB Announce Dates for US and Asian Round Tables on Global Financial Crisis November 6, 2008
IASB and FASB to Hold First Round Table on Global Financial Crisis in London on 14 November 2008
November 3, 2008
IASB and FASB Commit to a Global Approach to Enhance Market Confidence
October 20, 2008
IASB and FASB Create Advisory Group to Review Reporting Issues Related to Credit Crisis
October 16, 2008
IASB and FASB Launch Consultation on Proposed Enhancements to the Presentation of Financial Statements
October 16, 2008
FASB Issues Exposure Drafts on Going Concern and Subsequent Events
October 9, 2008
Change in agenda for FASB Wednesday, Oct 1 Board meeting
September 30, 2008
SEC Office of the Chief Accountant and FASB Staff Clarifications on Fair Value Accounting
September 30, 2008
Financial Accounting Foundation Appoints Marc A. Siegel to the Financial Accounting Standards Board
September 26, 2008
FASB Proposes Improvements to Reporting of a Discontinued Operation
September 25, 2008
MEDIA ADVISORY—Insurance Industry Topic Released onto the FASB Accounting Standards CodificationTM for the Verification Phase
September 19, 2008
MEDIA ADVISORY—FASB Chairman Robert Herz Delivers Insights About Current Financial Crisis in Speech to Diverse Group of Executives
September 18, 2008
FASB Issues Exposure Drafts to Amend Statement 140 and Interpretation 46(R)
September 15, 2008
FASB Issues FASB Staff Position (FSP) No. 133-1 and FIN 45-4, Disclosures about Credit Derivatives and Certain Guarantees: An Amendment of FASB Statement No. 133 and FASB Interpretation No. 45; and Clarification of the Effective Date of FASB Statement No. 161
September 12, 2008
IASB and FASB Publish Update to 2006 Memorandum of Understanding
September 11, 2008
MEDIA ADVISORY—Update: Forthcoming Issuance of Exposure Drafts to Amend Statement 140 and Interpretation 46(R)
September 3, 2008
MEDIA ADVISORY—Business Combinations Topic Released onto the FASB Accounting Standards CodificationTM for the Verification Phase
August 21, 2008
FASB Issues Revised Exposure Draft on Earnings per Share
August 7, 2008
FASB issues FASB Staff Position (FSP) FAS 117-1, Endowments of Not-for-Profit Organizations: Net Asset Classification of Funds Subject to an Enacted Version of the Uniform Prudent Management of Institutional Funds Act, and Enhanced Disclosures for All Endowment Funds
August 6, 2008
MEDIA ADVISORY—The Financial Accounting Foundation and the Financial Accounting Standards Board to Host High-Quality Global Accounting Standards: Issues and Implications for U.S. Financial Reporting
FASB Issues Exposure Draft on Accounting for Hedging Activities
June 6, 2008
FASB Issues Exposure Draft on Disclosure of Certain Loss Contingencies
June 5, 2008
MEDIA ADVISORY—Alicia A. Posta Named Executive Director of FASB Advisory Councils
June 3, 2008
MEDIA ADVISORY—FASB Announces Changes in Staff Leadership
June 2, 2008
US FASB and IASB Seek Views on Two Consultative Documents on the Conceptual Framework
May 29, 2008
Financial Accounting Standards Board Meets with Accounting Standards Board of Japan to Discuss Global Convergence
May 27, 2008
FASB Issues Statement No. 163, Accounting for Financial Guarantee Insurance Contracts
May 23, 2008
George J. Batavick to Remain on the Financial Accounting Standards Board
May 22, 2008
Financial Accounting Foundation Names Teresa S. Polley President and Chief Operating Officer
May 21, 2008
FASB Issues Statement No. 162, The Hierarchy of Generally Accepted Accounting Principles
May 9, 2008
The Financial Accounting Standards Board and the China Accounting Standards Committee Sign Memorandum of Understanding
April 28, 2008
The Financial Accounting Foundation and the Financial Accounting Standards Board to Host High-Quality Global Accounting Standards: Issues and Implications for U.S. Financial Reporting
April 17, 2008
SEC Content Released onto the FASB Accounting Standards CodificationTM for the Verification Phase
April 3, 2008
FASB Issues Invitation to Comment, Reducing Complexity in Reporting Financial Instruments, including IASB Discussion Paper, Reducing Complexity in Reporting Financial Instruments
March 28, 2008
FASB Issues Statement No. 161, Disclosures about Derivative Instruments and Hedging Activities
March 19, 2008
FASB Issues Proposed FASB Staff Position (FSP) No. 132(R)-a, Employers’ Disclosures about Postretirement Benefit Plan Assets
March 19, 2008
The Financial Accounting Foundation Board of Trustees Approves Changes to Oversight, Structure and Operations of FAF, FASB and GASB
February 26, 2008
FASB Issues Proposed FASB Staff Position FAS 117-a, Endowments of Not-for-Profit Organizations: Net Asset Classification of Funds Subject to an Enacted Version of the Uniform Prudent Management of Institutional Funds Act, and Enhanced Disclosures
February 22, 2008
Staff Position FIN 48-2, Effective Date of FASB Interpretation No. 48 for Certain Nonpublic Enterprises
February 1, 2008
FASB Launches Verification Phase for the FASB Accounting Standards CodificationTM
January 15, 2008
FASB issues FASB Statements No. 141 (R), Business Combinations and No. 160, Noncontrolling Interests in Consolidated Financial Statements
December 4, 2007
FASB Issues Preliminary Views on Financial Instruments with Characteristics of Equity
November 30, 2007
FASB Rejects Deferral of Statement 157 for Financial Assets and Liabilities
November 14, 2007
Financial Accounting Standards Board Meets with Accounting Standards Board of Japan to Discuss Global Convergence
October 24, 2007
FASB Accounting Standards CodificationTM
Approaches Constituent Verification Phase
October 19, 2007
FASB Issues Invitation to Comment on Agenda Proposal: Accounting for Insurance Contracts by Insurers and Policyholders
August 2, 2007
FASB Issues Proposed Staff Position on FAS 140-d, Accounting for Transfers of Financial Assets and Repurchase Financing Transactions
July 25, 2007
FASB Issues Proposal to Clarify the "Shortcut Method" of Hedge Accounting
July 24, 2007
STATEMENT OF THE FINANCIAL ACCOUNTING STANDARDS BOARD—JULY 2, 2007
The Financial Accounting Standards Board remains committed to the convergence of high-quality accounting standards worldwide, as demonstrated by its partnership with the IASB to improve financial statement presentation. To that end, a joint project was initiated that seeks to improve the quality of financial reporting. The FASB has requested further study of the practicality of requiring expanded information about profit, loss, assets and cash flow of operating segments within the context of the FSP project.
FASB Issues Statement Expressing Strong Support for SEC Advisory Committee on Improvements to Financial Reporting
June 27, 2007
Financial Accounting Standards Board to Form Resource Group on Valuation Guidance Issues
June 21, 2007
Financial Accounting Standards Board Meets with Accounting Standards Board of Japan to Discuss Global Convergence
June 6, 2007
Financial Accounting Foundation Appoints Girard Miller and Jan I. Sylvis to Governmental Accounting Standards Board
April 26, 2007
FASB Issues an Exposure Draft to Improve the Accounting for Financial Guarantee Insurance Contracts—Proposal Is Written in New FASB Format Designed to Enhance Understandability
April 18, 2007
Financial Accounting Foundation Notice Regarding SOX Compliance Scam
Financial Accounting Foundation Appoints Lawrence W. Smith to the FASB
April 9, 2007
Private Company Financial Reporting Committee Announces Membership
March 6, 2007
FASB Standard Establishes Fair Value Option for Financial Assets and Liabilities—Standard Seeks to Reduce Complexity and Improve Relevance of Financial Statements
February 15, 2007
The Financial Accounting Foundation Reappoints Timothy P. Flynn and James H. Quigley to Its Board of Trustees—Independent Oversight Body of FASB and GASB Also Appoints Three New Trustees, Robert T. Blakely, Ellyn L. Brown, and John J. Radford
January 30, 2007
Financial Accounting Foundation Reappoints Robert H. Herz as Chairman of Financial Accounting Standards Board
January 23, 2007
FASB Seeks Constituent Views on Valuation Guidance
January 16, 2007
Financial Accounting Standards Board Establishes Investors Technical Advisory Committee
January 2, 2007
FASB Proposes Improved Disclosures for Derivatives and Hedging Activities
December 8, 2006
Judith H. O'Dell to Chair Committee on Private Company Financial Reporting
December 7, 2006
FAF Appoints Dennis H. Chookaszian, Former Chairman and CEO of CNA Insurance Companies, as FASAC Chairman
December 4, 2006
Representatives of the Financial Accounting Standards Board and the Accounting Standards Board of Japan hold Second Meeting in Pursuit of Global Convergence
November 8, 2006
FASB Proposals Improve M&A Accounting Guidance for Not-For-Profit-Organizations, Provide Decision Useful Information to Financial Statement Users
October 9, 2006
FASB Improves Employers’ Accounting For Defined Benefit Pension and Other Postretirement Plans—Investors, Employees, Retirees and Other Financial Statement Users Will Now Receive More Complete Information
September 29, 2006
FASB Standard Provides Enhanced Guidance for Measuring Fair Value—Board Establishes Measurement Framework and Expands Disclosures Associated With Fair Value Measurements
September 15, 2006
Edward W. Trott to Leave Financial Accounting Standards Board in 2007
August 24, 2006
FASB Formally Adds Project to Reconsider Lease Accounting—Board Responds to Investors’ Request for Clearer Reporting of Leasing Arrangements
July 19, 2006
FASB Increases Relevance and Comparability of Financial Reporting of Income Taxes—Final Interpretation Reduces Widespread Diversity in Practice
July 13, 2006
FASB FSP Will Require Recalculation of Leveraged Leases If Timing of Tax Benefits Affect Cash Flows
July 13, 2006
US FASB and IASB Publish First Draft Chapters of Joint Conceptual Framework—Boards seek constituents’ feedback on proposal that defines objective of financial reporting and qualitative characteristics of decision-useful information
July 6, 2006
FASB to Hold Public Roundtable on Proposal to Improve Accounting for Postretirement Benefit Plans, Including Pensions
June 23, 2006
FASB Seeks Constituent Views on Proposal to Further Clarify the Definition of a Public Entity
June 23, 2006
FASB and AICPA Issue Proposal to Improve Financial Reporting for Private Companies
June 8, 2006
FASB Seeks Constituent Views on the Bifurcation of Insurance and Reinsurance Contracts—Board Invites Comments on Project to Improve Financial Reporting for Insurance Accounting
May 26, 2006
Representatives of the Financial Accounting Standards Board and the Accounting Standards Board of Japan Meet In Pursuit of Global Convergence
May 22, 2006
Financial Accounting Foundation Appoints Distinguished Accounting Professor Thomas J. Linsmeier to the FASB
May 16, 2006
The Financial Accounting Foundation Appoints Christopher C. Allen as Director of Government Relations
May 9, 2006
The Financial Accounting Foundation Appoints Susan M. Phillips, Dean of The George Washington University School of Business and Former Federal Reserve Governor, to FAF Board of Trustees
April 14, 2006
FASB Emerging Issues Task Force Invites Public Comment On Three Draft Abstracts
April 6, 2006
FASB Issues Exposure Draft to Improve Accounting For Postretirement Benefit Plans, Including Pensions—Proposed Statement Would Increase Transparency and Completeness of Financial Statements
March 31, 2006
FASB Issues Statement to Simplify Accounting for Separately Recognized Servicing Assets and Liabilities
March 17, 2006
Leslie F. Seidman Reappointed to Financial Accounting Standards Board
March 6, 2006
FASB and IASB Reaffirm Commitment to Enhance Consistency, Comparability and Efficiency in Global Capital Markets
February 27, 2006
FASB Responds to SEC Study on Off-Balance Sheet Arrangements, Reaffirming Commitment to Address and Improve Outdated, Complex Standards—Priority Remains on Improving Transparency, Usefulness of Financial Reporting for Investors and Capital Markets
February 16, 2006
The Financial Accounting Standards Board Issues Final Standard to Account for Certain Hybrid Financial Instruments—New Standard Provides a Means to Simplify Accounting
February 16, 2006
The Financial Accounting Standards Board Issues Proposal to Create a Fair Value Option for Financial Assets and Liabilities—Exposure Draft Seeks to Reduce Complexity in Accounting for Financial Instruments
January 25, 2006
FASB Member Katherine Schipper Will Not Seek Reappointment
January 20, 2006
The Financial Accounting Foundation Appoints Timothy P. Flynn, Chairman and Chief Executive Officer of KPMG LLP to the Foundation’s Board of Trustees
December 21, 2005
FASB Adds Comprehensive Project to Reconsider Accounting for Pensions and Other Postretirement Benefits—Board Seeks to Improve Transparency and Usefulness for Investors, Creditors, Employees, Retirees and Other Users of Financial Information
November 10, 2005
FASB Issues Revised Proposal to Improve Reporting of Earnings per Share and Enhance Comparability in Cross-Border Financial Reporting
September 30, 2005
Financial Accounting Standards Board Launches Investor Task Force (ITF)—Nation’s Top Investors Will Provide Sector Specific Input and Expertise to Board on Accounting Issues
September 29, 2005
The Financial Accounting Foundation Appoints Robert J. DeSantis President and Chief Operating Officer
September 22, 2005
The Financial Accounting Foundation Appoints Rick Anderson to FAF Board of Trustees and Announces Additional Reappointments
September 21, 2005
FASB Issues Three Exposure Drafts, Accounting for Transfers of Financial Assets, Accounting for Servicing of Financial Assets, and Accounting for Certain Hybrid Financial Instruments
August 11, 2005
The Financial Accounting Standards Board Issues Proposal on Accounting for Uncertain Tax Positions—Exposure Draft Seeks to Reduce Widespread Diversity In Accounting for Income Taxes
July 14, 2005
IASB and FASB Publish First Joint Proposals To Improve The Accounting And Reporting Of Business Combinations
June 30, 2005
Financial Accounting Standards Board Chairman Comments on SEC Staff Report on Off-Balance Sheet Arrangements, Special Purpose Entities and Related Issues
June 15, 2005
FASB Issues Accounting Standard That Improves the Reporting of Accounting Changes as Part of Convergence Effort with IASB
June 1, 2005
Michael Crooch Reappointed to Financial Accounting Standards Board
May 25, 2005
Financial Accounting Foundation Names Marcia L. Taylor to GASB Board; Reappoints William W. Holder to Board
May 23, 2005
Financial Accounting Foundation Appoints Keith L. Johnson as Chairman of the Governmental Accounting Standards Advisory Council
May 23, 2005
FASB Issues Proposal on the GAAP Hierarchy
April 28, 2005
FASB Issues Final Interpretation on Accounting for Conditional Asset Retirement Obligations
March 30, 2005
FASB Issues Final Statement on Accounting for Share-Based Payment
December 16, 2004
FASB Will Hold Press Conference Today to Announce Final Statement on Accounting for Share-Based Payment
December 16, 2004
FASB Issues Accounting Standard That Improves the Accounting for Nonmonetary Asset Exchanges as Part of Convergence Effort with IASB
December 16, 2004
FASB Issues Accounting Standard to Improve the Accounting and Reporting of Real Estate Time-Sharing Transactions
December 16, 2004
FASB Issues Accounting Standard That Converges with the IASB's Accounting Standard on Inventory
November 24, 2004
Financial Accounting Foundation Names Donald M. Young to the FASB
October 14, 2004
FASB Issues Proposal on Fair Value Measurements
June 23, 2004
FASB Publishes Proposal to Clarify the Accounting Guidance for Conditional Asset Retirement Obligations
June 17, 2004
Financial Accounting Foundation Trustees Issue Statement Opposing Legislative Proposals to Curb FASB Independence
June 14, 2004
Financial Accounting Foundation Chairman Responds to House Subcommittee’s Action on “The Stock Option Accounting Reform Act”
May 17, 2004
FASB Publishes Proposal on Equity-Based Compensation to Improve Accounting and Provide Greater Transparency for Investors
March 31, 2004
FASB Establishes Small Business Advisory Committee
March 18, 2004
Financial Accounting Foundation Reappoints Edward W. Trott, FASB Board Member, and Paul R. Reilly, GASB Board Member
February 19, 2004
Robert H. Attmore Elected Chairman of the Governmental Accounting Standards Board
February 11, 2004
FASB Publishes Revised Interpretation to Clarify and Expand on Accounting Guidance for Variable Interest Entities
December 24, 2003
Revised—FASB Issues Accounting Standard to Improve Disclosures about Pension and Other Postretirement Benefit Plans
December 23, 2003
FASB Issues Exposure Drafts to Improve Accounting Guidance and Support Convergence of Global Accounting Standards
December 15, 2003
FASB Publishes Exposure Draft on Consolidation of Variable Interest Entities
October 31, 2003
Robert E. Denham Elected Chairman of Financial Accounting Foundation; Edward V. Regan Named Trustee
October 30, 2003
FASB Defers Implementation Date for Accounting Guidance on Variable Interest Entities
October 9, 2003
FASB Proposes Improvements to Financial Statement Disclosures for Pension and Other Postretirement Plans
September 15, 2003
Financial Accounting Foundation Names George J. Batavick to FASB
July 14, 2003
FASB Seeks to Improve Accounting for Qualifying Special-Purpose Entities
June 10, 2003
FASB Improves Accounting for Financial Instruments with Characteristics of both Liabilities and Equity
May 15, 2003
FASB Issues Standard That Amends and Clarifies Accounting Guidance on Derivatives
April 30, 2003
Leslie F. Seidman Named to FASB; Gary S. Schieneman Reappointed to Board
April 29, 2003
FASB Adds Projects to Its Agenda on Employee Stock Options and Pensions
March 12, 2003
FASB Issues Exposure Draft on Accounting for Real Estate Time-Sharing Transactions
February 20, 2003
FASB Establishes User Advisory Council and Plans First Council Meeting for February 13
February 6, 2003
FASB Issues Guidance to Improve Financial Reporting for SPEs, Off-Balance Sheet Structures and Similar Entities
January 17, 2003
FASB Member John Wulff to Resign
January 2003
FASB Amends Transition Guidance for Stock Options and Provides Improved Disclosures
December 31, 2002
FASB Issues Accounting Guidance to Improve Disclosure Requirements for Guarantees
November 25, 2002
FASB Issues Invitation to Comment That Compares IASB's and FASB's Accounting for Stock-Based Compensation
November 18,2002
FASB and IASB Agree to Work Together toward Convergence of Global Accounting Standards
October 29, 2002
FASB Issues Proposal for a Principles-Based Approach to U.S. Accounting Standard Setting
October 21, 2002
FASB Issues Exposure Draft on Accounting for Stock Options, Amends Transition and Disclosure Provisions
October 4, 2002
FASB Issues Statement No. 147, Acquisitions of Certain Financial Institutions
October 1, 2002
FASB and IASB Will Hold Joint Meeting in Support of Convergence of Global Accounting Standards
September 17, 2002
FASB's Plans Regarding the Accounting for Employee Stock Options
July 31, 2002
FASB Issues Statement No. 146, Accounting for Costs Associated with Exit or Disposal Activities
July 30, 2002
Financial Accounting Foundation Increases Its Independence Through Amended Trustee Appointment Process
July 25, 2002
FASB Proposes Consolidation Principles for SPEs
July 1, 2002
FASB Issues Exposure Draft That Expands Disclosure Requirements for Guarantees
May 22, 2002
FASB Adds Revenue Recognition Project to Its Agenda
May 20, 2002
FASB Publishes Exposure Draft, Acquisitions of Certain Financial Institutions, That Amends Statements 72, 144 and
Interpretation 9
May 13, 2002
FASB Exposure Draft Amends Definition of a Derivative and Statement 133 to Provide for More Consistent Accounting
May 1, 2002
FASB Issues Financial Accounting Statement No. 145
April 30, 2002
Robert H. Herz Named Chairman of the Financial Accounting Standards Board
April 24, 2002
Financial Accounting Foundation Changes Financial Accounting Standards Board’s Voting to Increase Efficiency
April 24, 2002
FASB Chairman Comments on Proposed Legislation
March 19, 2002
Financial Accounting Foundation Considers Changes to Streamline FASB Process; Emphasizes Need for Independent Accounting Standard Setter
March 14, 2002
FASB Publishes Revised Exposure Draft on the Rescission of Statements No. 4, 44 and 64 and Technical Corrections
February 15, 2002
FASB Chairman Edmund L. Jenkins Testifies Before Congressional Committee on Financial Reporting’s Role in Protecting Investors
February 14, 2002
FASB Chairman Edmund L. Jenkins Will Testify Before Congressional Committee
February 13, 2002
James M. Williams Named to the Governmental Accounting Standards Board
January 21, 2002
FASB Focuses on Three New Projects—Revenue and Liability Recognition, Disclosure About Intangible Assets, and Codification and Simplification of Accounting Literature
January 14, 2002
Application of FAS 133 to Loan Commitments
December 19, 2001
FASB Publishes Exposure Draft on the Rescission of FASB Statements No. 4, 44 and 64 and Technical Corrections
November 15, 2001
Former Chairman of Foster Wheeler Richard J. Swift To Head Financial Accounting Standards Advisory Council
November 5, 2001
Edward J. Mazur Reappointed to the Governmental Accounting Standards Board
November 1, 2001
FASB Adds Financial Performance Reporting To Its Agenda
October 31, 2001
FASB Chairman Edmund L. Jenkins Elects To Retire Upon Completion Of His Five-Year Term
October 25, 2001
FASB Releases Video On The Importance Of Quality Financial Reporting; Leading Financial Authorities Discuss Key Issues
October 15, 2001
FASB Issues Statement No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets
October 3, 2001
FASB's Emerging Issues Task Force Decides Against Extraordinary Treatment for Terrorist Attack Costs
October 1, 2001
FASB's Emerging Issues Task Force Discusses Impact of Recent Terrorist Attacks on Businesses' Financial Reporting
September 21, 2001
FASB Issues Two Agenda Proposals for Comment—Financial Performance Reporting and Disclosure About Intangible Assets
August 21, 2001
FASB Issues Statement on Asset Retirement Obligations
August 16, 2001
FASB Issues Technical Bulletin on Statement 140
July 23, 2001
FASB Issues Two Statements on Its Business Combinations Project
July 20, 2001
FASB Proposal Would Amend Accounting for Certain Costs and Activities Related to Property, Plant and Equipment
July 10, 2001
FASB Issues Standard on Accounting for Asset Retirement Obligations
July 5, 2001
FASB Completes Business Combinations Project
July 5, 2001
FASB Completes Decisions on Business Combinations Project; Prepares for Drafting of Two Final Statements
May 22, 2001
FASB Issues Technical Bulletin, Effective Date for Certain Financial Institutions of Certain Provisions of Statement 140 Related to the Isolation of Transferred Financial Assets
May 21, 2001
Gary S. Schieneman Named to FASB
May 14, 2001
FASB Publishes Report, Business and Financial Reporting, Challenges from the New Economy
April 11, 2001
The FASB Publishes Report on Redundancies, GAAP-SEC Disclosure Requirements
March 6, 2001
FASB Issues Special Report on FASB Statement No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities
February 15, 2001
FASB Issues Limited Exposure Draft on Accounting for Goodwill in Connection with Proposal on Business Combinations
February 13, 2001
FASB Issues Report on Voluntary Disclosures, Improving Business Reporting: Insights into Enhancing Voluntary Disclosures
January 29, 2001
Anthony T. Cope and James J. Leisenring to Join IASB
January 25, 2001
FASB Reconfirms Its Plans to Eliminate Pooling-of-Interests Method of Accounting
January 24, 2001
Katherine Schipper Named to FASB
January 24, 2001
John K. Wulff Named to FASB
January 24, 2001
FASB Reports Change In Approach To Its Consolidation Policy Project
January 11, 2001
FASB Publishes Special Report of the Joint Working Group of Standard Setters on Financial Instruments
January 5, 2001
Financial Accounting Standards Board Announces Additional Decisions Relating to the Treatment of Goodwill
December 20, 2000
International Efforts Lead to Third Edition of GAAP Comparison
December 15, 2000
FASB Reaches Tentative Decision on Accounting for Purchased Goodwill
December 6, 2000
Green, Tracy Reappointed to Governmental Accounting Standards Board
October 27, 2000
FASB Issues Two Proposals on Accounting for Financial Instruments
October 27, 2000
Chairman Jenkins Responds to Letter from Senator Abraham
October 5, 2000
Potential Legislation Is Harmful to Investors and Harmful to Private-Sector Standard Setting
October 4, 2000
FASB Issues Statement on Securitizations
September 28, 2000
FASB Issues Proposed Rule on Asset Impairment and Disposals
July 12, 2000
FASB Issues Amendment to Derivatives Standard
June 15, 2000
FASB Rescinds Statement on Motion Pictures
June 15, 2000
Chairman Jenkins Testifies at House Hearing
May 4, 2000