UPDATED: FASB To Take Up FAS 140, More; IASB Standard on 'IFRS For Private Entities' Expected 1Q09
By Edith Orenstein, FEI Financial Reporting Blog - At its board meeting tomorrow (July 16), FASB is scheduled to take up revenue recognition, amendments to FAS 140 on transfers of assets, and disclosure of pension and other postretirement plan assets. Separately, IASB recently posted updated information on its 'IFRS for Private Entities' project (formerly: 'IFRS for SMEs'), noting a final standard is expected 1Q09. Further details on these FASB and IASB developments, and information about FEI’s upcoming Private Company Forum, can be found here. UPDATE 7.16.08: For results of the July 16 FASB meeting, read more here.