Posts Tagged ‘IFRS’

Much Ado About Nothing: The FASB Amends Topic 820 (FAS 157)

Nothing is ever as easy as it seems. When the FASB issued FAS 157 (now Topic 820) in September 2006, their goal seemed pretty straightforward. Several iterations and years later, the FASB continues to tinker with the standard. On January 21, 2010 the FASB issued ASU 2010-06-1 which amended Topic 820.

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Will FAS 133 (ASC 815-20) Revised be the New Frontier for Derivative Accounting?

The FASB is expected to issue an exposure draft to FAS 133 (ASC 815-20) as part of the Financial Instruments Project in the next few days. Assuming for once, that the FASB keeps to its timetable (don’t hold your breath, I’m not), the Exposure Draft is basically expected to be a re-issue of the Exposure Draft that was issued in July 2008, and one that generated close to 2,000 comment letters.

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