The FASB and IASB have at least four major projects expected to result in new accounting standards sometime next year: Fair Value Measurement, Financial Instruments, Leases, and Revenue Recognition. The user community is understandably interested in the effects that these standards will have on earnings and other information reported in 10-Ks and 10-Qs. 

Users know that a switch will not instantly flip us into a world of new accounting information. Instead, the transition will happen using something akin to a dimmer switch that slowly sheds light on the effects of the new standards on reported earnings and other financial information.

What do we know about how these dimmer switches have worked in the past?  What can we provide in the way of positive information from the academic community that might help the Boards make normative decisions defining the mechanism of the important dimmer switches that will accompany each of the new standards?  What do we know (or what can we learn) that might help the Boards facilitate a flow of information that investors can use to develop effective and efficient expectations of the effects of the new standards prior to their effective dates?