The FASB just released a Proposed FASB Staff Position that would amend the other-than-temporary (OTT) impairment guidance in two FASB Statements (SFAS 115 and SFAS 124) and in EITF 99-20. This Proposed FSP seems to make two big changes. The first relates to the conditions under which management can avoid considering an impairment to be OTT. Currently, [...] Read more > >
At today’s office hours, Bob Lipe presented this working paper with Lail and Yi. The upshot of the paper is that we need to be very careful when we think about the standard-setting implications of the accrual anomaly. It is tempting to say that accrual standards must be a problem because (as the Richardson, Sloan, [...] Read more > >
A new FASB Staff Position proposes a 2-step test to determine whether a market is not active. This will hardly satisfy those who think firms shouldn’t have to use fair value accounting for the assets in question in the first place. But for those who are simply complaining that market prices are ‘fire sale’ prices, [...] Read more > >
During FASB Research Office Hours on Tuesday, March 10, Leslie Seidman, FASB Board member, suggested the following questions as being of interest to the FASB regarding fair value measurement for liabilities. I believe that these questions are interesting and potentially addressable from multiple research perspectives. Moreover, I believe that work on these questions has the [...] Read more > >
Is there an archived version of this somewhere? Thanks!
XBRL is a standardized information format that structures the information such that it can be...
In preparation for the roundtable next week, I should like to encourage all readers to...
James Kroeker spoke at the The Baruch Accounting Conference this past week and some of his...
http://www.ifrs.org/Meetings/I ASB+February+2012.htm Thanks for the analogy to the...
