FASB Votes on Pension Disclosure, Bus Comb; SEC Roundable
By Edith Orenstein, FEI Financial Reporting Blog - At yesterday’s FASB board meeting, the board reaffirmed the effective date for its upcoming FSP on Employers’ Disclosures about Postretirement Benefit Plan Assets will be fiscal years ending after December 15, 2009, with early application permitted. FASB also agreed to release a proposed FSP with certain amendments to FAS 141R, Business Combinations, relating to assets and liabilities arising from contingencies in a business combination. In related news, the impact of FAS 141R in discouraging bank acquisitions was reported by a panelist at the SEC's roundtable on mark-to-market (fair value) accounting yesterday, among other pro and con fair value points. Read more here.