FASRI Roundtable: Rules vs. Principles-Based Standards

On February 26, FASRI will host a Roundtable discussing issues related to rules vs. principles-based standards.  Professor Rick Mergenthaler from the University of Iowa will lead a discussion based on his research into rules vs. principles-based standards and how they relate to litigation, earnings management, and other earnings attributes. For background you can read Professor [...] Read more > >

Background for 1/29/2013 Roundtable

I hope people can “attend” the upcoming roundtable.  Roundtable attendees or others might benefit from seeing some of the materials sent to conference attendees teeing up the issues.  You are welcomed but not required to browse through the materials.  The roundtable will focus primarily on two issues: How and when is the concept of control [...] Read more > >

FASRI Roundtable: 2012 FASB/IASB Financial Reporting Issues Conference

On January 29, FASRI will host a Roundtable covering issues discussed at the 2012 FASB/IASB Financial Reporting Issues Conference.  Professor Bob Lipe will lead a discussion on issues of control (both of assets and entities) and on derecognition of both assets and liabilities.  In the conference, participants attempted to develop a consistent set of principles [...] Read more > >

FASRI Roundtable: Post-Implementation Review

On January 24 and 25, the FASRI will host a Roundtable on the FAF’s Post-Implementation Review.  In an effort to more effectively oversee the FASB and GASB activities and improve the standard-setting process, the Financial Accounting Foundation (FAF) announced about one year ago a new process to review promulgated standards by these Boards.  Referred to [...] Read more > >

FASRI Roundtable: Proposed Standard on Revenue Recognition

Click here to view the video recording of this Roundtable   The first FASRI Roundtable for 2012 will cover the newly proposed standard on Revenue Recognition.  FASB practice fellows Michael Breen (KPMG) and Heather Harris (General Electric) will lead the discussion.  Michael is a senior manager at KPMG and Heather is an Assistant Controller in the [...] Read more > >

Upcoming FASRI Roundtables

Finals are over and the holidays are here – great time of the year.  As I anticipate FASRI activities for next year, I’m looking forward to the next batch of Roundtables.  This past semester, we had an opportunity to meet several new FASB Board Members, Hal Schroeder, Russell Golden, and Daryl Buck, as they each [...] Read more > >

Roundtable: Russell Golden, FASB Board Member

The FASRI Round Table series continues at 4pm Eastern time on Tuesday, August 30. Rob Bloomfield and Lynn Rees will moderate the session, and our guest speaker is Russell Golden, a FASB Board Member.  Russell was appointed to the board last October, and has been affiliated with the FASB serving in various positions since 2004.  [...] Read more > >

International Convergence

The deadline for the SEC to make a decision on whether or not to accept IFRS for domestic issuers is drawing near.  Obviously, this is an important decision that will have tremendous implications for accounting educators and the FASB.  In a recent speech in China, Hans Hoogervorst, the new Chairman of the IASB, commented that [...] Read more > >

Some observations from recent Round Table

Last Wednesday, I enjoyed our most recent FASRI Round Table.  Ben Couch discussed the new guidance for making Fair Value Measurements (hereafter, FVM) as well as the new disclosures about FVM.  Part of the discussion centered distinguishing between level 2 and 3 measurements.  For a FVM that uses some market information, how does the accountant [...] Read more > >

Round table on Level 2 and level 3 fair valuation and ASU 2011-04

Update: Here are two slide decks related to the session described below:  First click on “Read more” below and then click here for the first slide deck. First click on “Read more” below and then click here for the second slide deck. Unfortunate technological difficulties prevented us from recording the session.   The FASRI Round [...] Read more > >