Earlier today, FASB released FASB Statement No. 165, Subsequent Events (FAS 165). See Clickable text link to Yahoo FAS 165 and related FASB news release. FAS 165 is effective for interim and annual periods ending after June 15, 2009.
To learn more about this new standard and other FASB standards that become effective this quarter (e.g. the new fair value guidance issued in April), and for an update on other current issues, join us at FEI's June 9 webcast, 12 noon -1:30 pm EDT: "What's New With FASB?" Featured speakers include Russell Golden, Technical Director, FASB; Carlo Pippolo, Director, Standard Setting, Ernst & Young LLP; and Bob Uhl, National Director of Accounting Standards and Communications, Deloitte & Touche LLP. The panel will be moderated by Steve Burkholder, Staff Correspondant, BNA. Free for FEI members; $50 for nonmembers; advance registration is required; 1.5 CPE is offered; register here.
FAF Annual Report, FAS 164 Posted
In other FASB news, the Financial Accounting Foundation (FAF), parent organization of the FASB and GASB, recently posted the FAF 2008 Annual Report. Additionally, FASB issued FAS 164 last week: Not for Profit Entities: Mergers and Acquisitions. (see FASB news release.)
IASB Releases Proposals on Fair Value, Pensions
Also today, the IASB released for public comment proposals relating to fair value measurement and pensions, read more here.
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Gail Perry, CPA