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	Perspective Alert! FASB addresses FAS 123 rules (Site not responding. Last check: 2007-11-07)
		FASB is proposing to amend the transition rules and disclosure requirements of FAS 123, the standard that governs accounting for stock-based compensation.
		FASB has balanced the flexibility of the transition rules with enhanced disclosure requirements that ensure comparability of information among companies.
		FASB is accepting comments on the Exposure Draft until 4 November 2002.
	www.mercerhr.com /knowledgecenter/reportsummary.jhtml?idContent=1072045 (630 words)

	The Non_Profit Resource Center - FASB - 117 (Site not responding. Last check: 2007-11-07)
		FASB 117 "Financial Statement of Not-For-Profit Organization" amends FASB 95 "Statement of Cash Flows", to extend its provisions to not-for-profit entities and requires voluntary health and welfare organizations to continue, and encourages other not-for-profit organizations to provide a Statement of Functional Expenses.
		Although FASB 117 does not encourage or discourage further classifications such as operating and nonoperating etc., if the organization uses such terms these classifications must, at a minimum, be included in a financial statement that reports the change in unrestricted net assets for the period.
		FASB 117 amends a number of sections of FASB 95 to require not-for-profit organizations to include a Statement of Cash Flows as a part of a complete set of financial statements.
	www.1800net.com /nprc/fasb117.html (1145 words)

	Differences between old FASB and new GASB
		FASB refers to the format that was implemented by private institutions in fiscal year 1997 as a result of the changes in accounting standards adopted by the Financial Accounting Standards Board.
		FASB does not consider operation and maintenance of plant as a separate function, but rather allocates these expenses to the other functions such as instruction, research, public service, and academic support).
		When the new FASB accounting standards were adopted, institutions could choose to treat Pell grants as pass through funds (the institution is simply a conduit for the funds) or as federal grant revenue and expense (or allowance).
	nces.ed.gov /ipeds/web2000/gasbfasb.asp (1653 words)

	Practical Issues in Implementing FASB 133
		FASB initially set the effective date for Statement no. 133 for all fiscal quarters of all fiscal years beginning after June 15, 1999.
		FASB decided that contracts that permit but do not require settlement by delivery of a commodity are often used interchangeably with other derivatives and present similar risks; therefore, they should be considered derivatives.
		FASB amended the statement to exclude contracts, other than financial contracts, from the requirements of Statement no. 133 when physical delivery was probable; this fact must be documented.
	www.aicpa.org /pubs/jofa/mar2001/hwang.htm (4722 words)

	FASB-Government Affairs - Cisco Systems
		FASB told Congress it is not studying the economic impact of this decision
		Notwithstanding industry and Congressional concerns, FASB has stated that it still intends to eliminate the pooling method of accounting in the first quarter of 2001, before studies of the economic impact of this decision are completed.
		FASB has expressed a willingness to consider changes to the purchase method of accounting that might mitigate the impact of its imposition on the new economy.
	www.cisco.com /web/about/gov/archive/fasb.html (917 words)

	Financial Accounting Standards Board - Wikipedia, the free encyclopedia
		The FASB's mission for the private sector is similar to that of the Governmental Accounting Standards Board (GASB) for local and state governments in the United States.
		The FASB was created in 1973, replacing the Accounting Principles Board of the American Institute of Certified Public Accountants (AICPA)who replaced the Accounting Principles Board and the Committee on Accounting Procedure in 1959, also of the AICPA.
		The SEC designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. Before the present structure was created, financial accounting and reporting standards were established first by the Committee on Accounting Procedure of the AICPA (1936–1959) and then by the AICPA Accounting Principles Board (1959–73).
	en.wikipedia.org /wiki/FASB (496 words)

	FASB, Say It Isn't So (Site not responding. Last check: 2007-11-07)
		I still think FASB could have done more to win the populist vote, where the battle is winnable, but I admit that the odds were against the board once Arthur Levitt, then chairman of the Securities and Exchange Commission, caved in.
		In the case of FASB and the expensing of stock options, it is clear that most financial executives are opposed to this standard regardless of its logic.
		FASB will now appear unreasonable if it doesn't postpone the date for issuing a standard and if it doesn't study various new models for measuring the expense.
	accounting.smartpros.com /x44335.xml (1044 words)

	IAS Plus International Accounting Standards: European Commission
		The FASB has a leadership role to play in the evolution of the international accounting system and is guided by the belief that, ideally, the ultimate outcome would be the worldwide use of a single set of high-quality accounting standards for both domestic and cross-border financial reporting.
		To achieve that objective, the FASB is willing to commit the required resources to the related goals of (1) ensuring that international accounting standards are of high quality and (2) increasing the convergence and quality of the accounting standards used in different nations.
		The FASB acknowledges that, if a quality international accounting standard-setting structure and process emerges, the FASB's commitment and desire to participate in a meaningful way in the operations of that standard setter may ultimately lead to structural and procedural changes to the FASB as well as potential changes in its national role.
	www.iasplus.com /restruct/restfasb.htm (1651 words)

	CPA Journal - December 1998
		First, as the results in Table 1 indicate, it is apparent that CFOs have an acute interest in FASB pronouncements; more than 90% of the respondents stated that they receive the exposure drafts (EDs) of proposed FASB standards and that this has been the practice for the past five years (statements 1 and 2).
		The results associated with Statement 5 are interesting, for, despite all the complaints in the media regarding FASB standards, 77% of the respondents indicated that their firms in general, as well as other similar firms, support FASB's output.
		Seventy-four percent of the respondents did not agree with the position (Statement 1) that in setting its agenda, FASB evaluates all suggestions equally, and that it is free from undue influence by certain outside organizations.
	www.nysscpa.org /cpajournal/1998/1298/departments/d531298.html (1216 words)

	Financial Reporting Newsletter
		FASB Statement No. 44, Accounting for Intangible Assets of Motor Carriers, was issued to establish accounting requirements for the effects of transition to the provisions of the Motor Carrier Act of 1980.
		The FASB decided that for this particular voluntary accounting change, the cumulative effect of the change is not meaningful.
		The FASB believes that it would be unusual for the contingent amount (b) to exceed the fair value (a).
	www.bdo.com /about/publications/assurance/fr_feb_03yir/finalfasb.asp (8695 words)

	FASB (Site not responding. Last check: 2007-11-07)
		FASB has announced it will decide by September 9 whether to provide implementation guidance on interest-rate impairments, and a delayed implementation date for affected areas.
		The Association's comment to the FASB in enhancing the reporting under Statement 125, noting that Statement 140 addressed many concerns. Concerns remain about paragraph 94 of Statement 140, many interpreting this to require on-balance sheet treatment by a firm that has received securities from a counterparty to secure the firm's loan of securities to that counterparty.
		We hope that once FASB fully assesses the available information, it will come to the conclusion that the current accounting for dollar roll transactions in fact appropriately characterizes the nature of these transactions based on the purpose and results sought by counterparties, as well as on significant trading and operational concerns.
	www.bondmarkets.com /collection.asp?colid=140 (969 words)

	Commission Policy Statement on Reaffirming the Status of the FASB as a Designated Private-Sector Standard Setter
		At the time of the FASB's formation in 1973, the Commission reexamined its policy and formally recognized pronouncements of the FASB that establish and amend accounting principles and standards as "authoritative" in the absence of any contrary determination by the Commission.
		The FASB receives input from, among other sources, a standing advisory body, the Financial Accounting Standards Advisory Council (FASAC), which is comprised of members from the accounting and business communities, academia, and professional organizations, all of whom share an interest in fostering quality financial reporting and disclosure.
		Upon ratification of an EITF consensus by the FASB, the consensus is published as part of the EITF's minutes and may be relied on by Commission registrants and others in the preparation of financial statements that purport to conform to generally accepted accounting principles.
	www.sec.gov /rules/policy/33-8221.htm (2665 words)

	FASB Braces for Fight (Site not responding. Last check: 2007-11-07)
		FASB and legislators have skirmished since the 1970s, when members of Congress, mostly from oil-producing states, pressured the accounting board and the Securities and Exchange Commission to ease standards for financial reporting in the oil industry.
		Moving to block FASB from issuing a standard requiring companies to recognize the cost of employee stock options on their balance sheets, Sen. Joe Lieberman, D-Conn., sponsored a bill that threatened to strip FASB of its mandate.
		FASB also came under congressional pressure in the late 1990s regarding new rules for derivatives and accounting for mergers and acquisitions.
	accounting.smartpros.com /x42954.xml (934 words)

	SEC/GAAP Watch - FASB Articles - RIA
		Supported the FASB staff's plan to consult with selected informal technical experts, as well as their Advisory Committees, concerning the definition of an asset while at the same time continuing work on remaining milestones within the elements and recognition phase (Phase B).
		Directed the FASB staff to develop a presentation format that can be used until the long-term goal of other comprehensive income items being classified in the same manner as all other changes in assets and liabilities can be achieved, and directed the FASB staff to develop a plan for achieving that long-term goal.
		Receive a FASB staff update about the three accounting approaches that the FASB is developing for the Preliminary Views expected to be issued jointly in mid-2007.
	ria.thomson.com /secgaapwatch/fasb.asp (7975 words)

	FASB Training conference
		The FASB has changed the hierarchy of GAAP and restructured the standard setting process including changing the process for finalizing EITF issues and the issuance of FSPs.
		The FASB is also considering other changes in GAAP, including the codification of all accounting standards.
		The FASB is revisiting the concepts in FAS 150 and appears to be overturning some of their decisions.
	www.eeiconferences.com /fasbagenda.htm (932 words)

	Financial Accounting Standards Board Pronouncement for Lease Accounting (Site not responding. Last check: 2007-11-07)
		FASB, headquartered in Stamford, Connecticut, issued its first FASB Statement on Foreign Exchange in 1973.
		For purposes of this Statement, a lease is defined as an agreement conferring the right to use property, plant or equipment (land and/or depreciable assets) for a stated period of time.
		FASB 13 states that there are two classifications of leases for lessees and four classifications of leases for lessors.
	executivecaliber.ws /sys-tmpl/fasb13 (682 words)

	FASB
		Concepts statements are issued to guide the FASB in setting standards, to guide practitioners in dealing with unresolved issues, and to help educate nonaccountants.
		Technical Bulletins issued by the FASB staff may address issues not directly covered by existing standards and may provide guidance that differs, for particular situations, from the general application required by existing pronouncements.
		The FASB strives to keep the public informed of developments on its projects through a newsletter (Status Report) and a weekly notice of upcoming Board meetings and their agendas with brief summaries of actions taken at previous meetings (Action Alert).
	www.wku.edu /~jack.hall/FASB.htm (1532 words)

	FASB: Facts about FASB - Mission
		FASAC has responsibility for consulting with the FASB as to technical issues on the Board’s agenda, project priorities, matters likely to require the attention of the FASB, selection and organization of task forces and such other matters as may be requested by the FASB or its Chairman.
		The FASB is alert to trends in financial reporting through observation of published reports, liaison with interested organizations and discussions with the EITF.
		The FASB staff seeks information from resource group members as needed throughout the life of a project, for example, as it initially identifies issues to be addressed and as it issues and develops its analysis of possible alternative approaches.
	www.fasb.org /facts (3381 words)

	Repos & FASB (Site not responding. Last check: 2007-11-07)
		The comment letter was submitted yesterday to FASB on the exposure draft on Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.
		PSA cautioned that FASB's proposal would directly affect the repurchase agreement and securities lending markets and would likely cause detrimental effects to the liquidity of any agreement with a term longer than three months by requiring sale treatment and recognition of gain or loss.
		The Association said that institutions that typically use mortgage pass-throughs in the held to maturity account could sharply curtail their participation in the roll market if they had to recognize gain and loss on each transaction.
	www.bondmarkets.com /pr/OldPR/FASBREPO.shtml (528 words)

	FASB Launches Review of Accounting for Leases - 12 Jun 2006 (Site not responding. Last check: 2007-11-07)
		Having issued its Exposure Draft to Improve Accounting of Pensions and other Postretirement Benefits, FASB is now considering moving lease obligations from the current footnote disclosure to the balance sheet.
		Thomas J. Linsmeier, recently named a member of the FASB, said that the current rule for accounting for leases needed to be changed because it sets such specific criteria.
		But he says that the complexity and volume of standards impedes transparency, and that the FASB is working jointly with the IASB to develop more principles based standards.
	www.accountingweb.com /cgi-bin/item.cgi?id=102240 (754 words)

	FASB Pronouncements & Interpretations \| Freed Maxick & Battaglia, CPAs \| Buffalo \| Rochester \| NY
		Currently, the accounting for uncertainty in income taxes, which is based upon validity of a tax position, is subject to significant and varied interpretations that have resulted in diverse and inconsistent accounting practices and measurements.
		The interpretation of FASB Statement No. 109, Accounting for Income Taxes prescribes a consistent recognition threshold and measurement attribute, as well as clear criteria for subsequently recognizing, derecognizing and measuring such tax positions for financial statement purposes.
		This Interpretation, which incorporates comments received from FASB constituents, as well as views expressed during a public roundtable, is effective for fiscal years beginning after December 15, 2006.
	www.freedmaxick.com /fasb_pronouncements_interpretations.php (272 words)

	FASB's Stock Options Blunder - Forbes.com (Site not responding. Last check: 2007-11-07)
		We used the most popular models that FASB will allow, including Black-Scholes, to predict the gains to recipients at the time the options were granted.
		FASB, though it does not let a company pick, say, the asset depreciation schedule it wishes, would allow it to use any option valuation model that takes into account the option term, strike price, volatility, lack of marketability, a risk-free rate and dividends.
		The option valuation models that FASB supports are supposed to predict the value of the option to the recipient (although they do not do so accurately).
	www.forbes.com /2003/01/22/cx_0122opinion.html (1378 words)

	Discussion and Solutions to FASB Questions
		The FASB is the current private sector group that is designated for this role.
		Research by the FASB and others is used to gain new insights, particularly when the framework can provide no additional answers.
		The FASB sets US accounting standards only, but the FASB has embarked on a plan aimed at harmonizing US GAAP with international standards so that financial reports will be more comparable with those of other countries.
	www.swlearning.com /accounting/students/efa_gaap_reso2.htm (463 words)

	FASB 141 & 142 Analysis - Acquisition Intangibles and Goodwill
		The purpose of FASB 141 and 142 is to provide investors with better financial information as to the success of past acquisitions.
		In the process of doing this, the FASB has forced firms to deal with a number of thorny and confusing valuation issues.
		FASB requires that the valuations related to application of the rules of FASB 141 and 142 be conducted by or reviewed by a valuation expert, independent of the firm needing the valuation and the firms' auditor.
	www.axiomvaluation.com /Services/FASBAnalysis.asp (339 words)

	FASB: FASB Statements and Concepts Statements—Full Text, Summary, and Status
		FASB Statements, Concepts Statements, Interpretations, Technical Bulletins, and EITF Abstracts are copyrighted by the Financial Accounting Standards Board, 401 Merritt 7, Norwalk, Connecticut 06856.
		No part of the FASB Statements, Concepts Statements, Interpretations, Technical Bulletins, and EITF Abstracts as available at this FASB website may be further reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the Financial Accounting Standards Board.
		To be certain that an FASB Statement that you are viewing has not been affected by either Statement 149 or Statement 150, you will need to look at the Status pages of Statements 149 and 150.
	www.fasb.org /st (3593 words)

	FASB
		Since 1973, the FASB has been the designated organization in the private sector for establishing standards of financial accounting and reporting.
		They are officially recognized as authoritative by the Securities and Exchange Commission (Financial Reporting Release No. 1, Section 101) and the American Institute of Certified Public Accountants (Rule 203, Rules of Conduct, as amended May 1973 and May 1979).
		The mission of the FASB is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information.
	www.russell.com /US/glossary/accounting/fasb.htm (100 words)

	FASB on Checkpoint®
		FASB on Checkpoint is available as an add-on with a subscription to any RIA/WG&L product on Checkpoint.
		FASB Interpretations - issued periodically to interpret an existing pronouncement.
		FASB Technical Bulletins - prepared periodically by the staff of the FASB.
	ria.thomson.com /estore/detail.aspx?ID=WFASB (316 words)

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