Attached is the 2007 issue of Accounting Roundup Year in Review. This issue covers accounting standard-setter and regulatory activities that affect year-end financial reporting, as well as hot topics such as the current credit environment and Statement 158 pension adoption issues. Also discussed are the issuance of FASB statements on fair value and business combinations, as well as three proposed FSPs that, if finalized by the FASB, will affect accounting or disclosures for this year's reporting season.

Accounting Roundup, published by Deloitte & Touche LLP, briefly describes recent U.S. regulatory and professional developments in the field of accounting. In each issue, visitors find summaries with hyperlinks to more detailed information. Accounting Roundup acts as a resource guide for accounting, financial, investment, legal, tax, and other business professionals.

Find the complete Year in Review — 2007 issue of Accounting Roundup in the PDF attachment below. Or visit our Accounting Roundup Archive, where you can access past issues and other special editions, including: Third Quarter in Review — 2007, Second Quarter in Review — 2007, and First Quarter in Review — 2007.