FASB's Newest PIR (Bus Comb, Segments, & GASB 3)

Earlier this week, the Financial Accounting Foundation [1] (which oversees the FASB [2] and GASB [3]) announced [4] the next in a series of Post-Implementation Reviews (PIR) of FASB standards will focus on the standards originally issued as FAS 141R (Business Combinations [5]), FAS 131 (Segments [6]) and GASB Statement No. 3 (Government Deposits and Investments, including repos/reverse repos [7]).
 

(NOTE: the aforementioned references and links are with respect to the standards as originally issued, i.e. prior to FASB putting all of its standards into a single Codification [8] and amending standards by directly amending the Codification. See Notice to Constituents-About the Codification [9]. In related news, on February 16, the FASB announced the release of an updated print version of the Codification [10], aka Accounting Standards Codification or ASC.)

This week’s announcement of FAF’s launch of the three new PIRs follows the January release of the FAF’s report on the inaugural PIR on FIN 48, Accounting for Uncertainty in Income Taxes [11].