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- Can Option Contracts and Forward Contracts with Optionality Features Qualify for the Normal Purchases and Normal Sales Exception
- Article talks about statement 133 implementation issue no. C10 for option contracts and forward contract with optionality features quality for the normal purchases and normal sales exceptions. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative...
- White papers 2003-05-01
- Credit Standing and Liability Measurement
- "A balance sheet is composed of three classes of elements—the entity's economic resources assets, claims against those resources held by non owners liabilities and the residual claims of owners equity. In a corporation, the value of owners' residual claims cannot decline below zero; a shareholder cannot be compelled to...
- White papers 2001-06-01
- Criteria for Liability Extinguishment
- The objective of this article is to broadly consider the criteria for liability extinguishment Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities. The article will explore what changes in commercial arrangements should trigger modifications to the obligor's accounting for its recognized obligations under those arrangements....
- White papers 2003-08-22
- Disclosures About Intangible Assets
- This article is about establishing standards that will improve disclosure of information about intangible assets that are not recognized in financial statements. Those unrecognized intangible assets include assets that are developed internally such as brand names and customer relationships and those that are acquired and written off immediately (acquired in-process...
- White papers 2003-08-11
- Fair Value Measurement
- The objective is to develop a Statement that will establish a framework for measuring fair value under other pronouncements that require fair value measurements, codifying the guidance for measuring fair value in those pronouncements Fair Value Statement. The Statement, which will be developed in phases, will focus on how, not...
- White papers 2003-09-03
- Liabilities and Equity
- This article is about Accounting for certain Financial Instruments with characteristics of both Liabilities and Equity, the Board will embark on the liabilities and equity project. The objectives of the article are to: Improve accounting and reporting by issuers for financial instruments that contain characteristics of equity and liabilities,...
- White papers 2003-09-12
- Employers' Accounting for Postretirement Benefits Other Than Pensions
- This Statement establishes accounting standards for employers' accounting for postretirement benefits other than pensions. Although it applies to all forms of postretirement benefits, this Statement focuses principally on postretirement health care benefits. The ability to measure the obligation for postretirement health care benefits and the recognition of that obligation have...
- White papers 2003-01-01
- Business and Financial Reporting, Challenges From The New Economy
- This Special Report examines two assertions that dominate articles and papers about the intersection between the new economy on one hand and business and financial reporting on the other. First, the economy of 2000 is fundamentally different from the economy of 1950 and before. Second, traditional financial statements do not...
- White papers 2001-04-01
- Issues Relating To The Recognition of Revenues And Liabilities
- Revenue usually is the largest single item in financial statements and studies indicate that revenue recognition is the single largest category of financial statement restatements. Consequently, issues involving revenue recognition are among the most important - and the most difficult - that standard setters and accountants face. This proposal discusses...
- White papers 2003-01-01
- Financial Performance Reporting by Business Enterprises
- The primary objectives of this report are (1) to improve the quality of information displayed in financial statements so that investors, creditors, and others can better evaluate an enterprise's financial performance and (2) to ascertain that sufficient information is contained in the financial statements to permit calculation of key financial...
- White papers 2003-09-03
- Accounting And Reporting By Defined Benefit Pension Plans
- This report establishes standards of financial accounting and reporting for the annual financial statements of a defined benefit pension plan plan. It applies both to plans in the private sector and to plans of state and local governmental units. It does not require the preparation, distribution, or attestation of financial...
- White papers 2003-01-01
- Application of Market Mechanism and Readily Convertible to Cash Subsequent to the Inception or Acquisition of a Contract
- This article talks about the FASB Statement No.149 for the amendment of statement 133 on derivative instruments and hedging activities and FASB Statement No.150 for accounting certain financial instruments with characteristics of both liabilities and equity. If a contract ceases to be a derivative pursuant to Statement 133 and an...
- White papers 2003-06-10
- Combinations of Not-for-Profit Organizations
- This article talks about the objective of the project is to develop guidance on the accounting and reporting for combinations of not-for-profit NFP organizations. It provides the summary of Board decisions for information purposes. A combination occurs when a not-for-profit organization acquires assets and liabilities that constitute an activity or...
- White papers 2003-09-04
- Expected Cash Flows
- FASB Concepts Statement No. 7, Using Cash Flow Information and Present Value in Accounting Measurements. Since then, the Board has incorporated the ideas from Concepts Statement 7 in Exposure Drafts on impairment of long-lived assets and asset removal obligations. This article has two sections. The first expands on why the...
- White papers 2001-05-01
Additional Resources
- What is the role of the FAF? (Financial Accounting Foundation)
- The Financial Accounting Foundation is responsible for appointing members to the Financial Accounting Standards Board, the Government Accounting Standards Board, the Financial Accounting Standards Advisory Council, and the Government and the Accounting Standards Advisory Council. The Foundation is also responsible for arranging Foundation funding; preparing the Foundation budget; and reviewing...
- Research articles 1989-03-01
- FASB appointment process changed.(Financial Accounting Foundation changes procedures for naming people to Financial Accounting Standards Board)
- Bent on increasing the independence of those who create accounting standards, the Financial Accounting Foundation FAF changed its by-laws concerning appointments to the Financial Accounting Standards Board late last month. "Given the critic Bent on increasing the independence of those who create accounting...
- Research articles 2002-08-19
- FAF proposed changes spur former FASB member comments.(financial reporting)(Financial Accounting Foundation)(Financial Accounting Standards Board)
- Last December, the Financial Accounting Foundation FAF Board of Trustees released for public comment (by February 10) proposed changes to oversight, structure and operations of FAF, the Financial Accounting Standards Board FASB and Governmental A Last December, the Financial Accounting Foundation FAF Board of Trustees...
- Research articles 2008-03-01
- 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
- NORWALK, Conn. -- The Financial Accounting Foundation FAF and the Financial Accounting Standards Board FASB today announced they will host a forum entitled High-Quality Global Accounting Standards: Issues and Implications for U.S. Financial Reporting. The event will take place Monday, June 16, 2008, from 9 a.m. to 4 p.m., at...
- Research articles 2008-04-17
- Five minutes with Robert J. DeSantis, CEO of Financial Accounting Foundation
- Just after the Board of Trustees of the Financial Accounting Foundation FAF announced the appointment of Robert J. DeSantis, CPA, as president and chief operating officer, CPA Magazine Editor T. Allen Rose had the opportunity to hold the first interview with Mr. DeSantis regarding his new role at the FAF...
- Research articles 2005-11-01
- Financial Accounting Foundation Appoints Marc A. Siegel to the Financial Accounting Standards Board
- NORWALK, Conn. -- Robert Denham, chairman of the Financial Accounting Foundation FAF, today announced that the FAF Board of Trustees has appointed Marc A. Siegel to the Financial Accounting Standards Board FASB. Prior to his appointment, Mr. Siegel led the Accounting Research and Analysis team at the RiskMetrics Group in...
- Research articles 2008-09-26
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