The attached issue of Accounting Roundup presents brief descriptions of pronouncements and other regulatory and professional developments in accounting and financial reporting that occurred during January 2008. Topics covered in this issue include the following: FASB Developments FASB Partially Defers Effective Date of Fair Value Statement 157 FASB Excludes Leases From Scope of Fair Value Statement 157 FASB Indefinitely Defers SOP 07-1 Affecting Investment Company Accounting FASB Issues FSP Under Which Repurchase Financing Activities May Be Derivatives FASB Proposes FSP on Net Asset Classification of Endowment Funds FASB Proposes FSP on Fresh-Start Reporting FASB Reduces Board Members From Seven to Five FASB's Valuation Resource Group Discusses Six Topics FASB Discusses Changes to Defined Benefit Plan Asset Disclosures and Other Matters FASB's PCFRC Provides Input on Definitions of "Issuer" and "Nonissuer"
AICPA Developments AICPA Issues Revisions to Accounting and Review Services Guidance
SEC Developments SEC Issues Disclosure Rules for Smaller Companies SEC Mandates Electronic Filing of Form D SEC Votes on Foreign Private Issuer Rule Amendments SEC Proposes One-Year Deferral of Section 404 Requirement for Smaller Public Companies SEC Proposes Disclosure Requirements for Companies Implementing the Sudan Accountability and Divestment Act of 2007 SEC Financial Reporting Advisory Committee Releases Progress Report SEC Launches "Financial Explorer" to Help Investors Analyze Corporate Performance
PCAOB Development PCAOB Proposes New Auditing Standard on Engagement Quality Reviews
International Developments IASB Amends Financial Instruments Standard for Puttable Instruments and Obligations Arising on Liquidation FASB Proposes to Narrow Definition of Equity; IASB Issues Discussion Paper Seeking Constituents' Views
Other Developments Recent Tax Ruling Affects Tax Positions Related to Executive Compensation
Links to additional information are provided for most topics. 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 November 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: Year in Review — 2007, Third Quarter in Review — 2007, Second Quarter in Review — 2007, and First Quarter in Review — 2007. |
