Heads Up: FASB Issues Exposure Documents That Eliminate QSPEs, Modify the Consolidation Model in Interpretation 46(R), and Expand Required Disclosures
Volume 15, Issue 36
The attached issue of Heads Up discusses three exposure documents issued last week by the FASB proposing amendments to the derecognition guidance in Statement 140 and the consolidation model in Interpretation 46(R). The exposure drafts reflect the Board's response to the increased scrutiny by SEC, Congress, and financial statement users on the accounting and disclosures required by Statement 140 and Interpretation 46(R) in the wake of the recent deterioration in the global credit markets.
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