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Heads Up: FASB's Contingency Plan — FASB Proposes FSP to Amend Statement 141(R)'s Guidance on Contingencies

Volume 15, Issue 44


The attached issue of Heads Up discusses the FASB’s recently released Proposed FSP FAS 141(R)-a, “Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise From Contingencies.” The proposal would amend Statement 141(R) and would address concerns identified in the application of Statement 141(R) as it relates to applying fair value recognition and measurement principles to assets acquired and liabilities assumed in a business combination that arise from contingencies.

Read more in the file attached below or visit the Heads Up Archive for past issues.

Heads Up and other information on accounting and financial disclosure also can be found in the Technical Library: The Deloitte Accounting Research Tool. Technical Library, a subscription-based research tool, includes material from the the Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), AICPA, Securities and Exchange Commission (SEC) and International Accounting Standards Board (IASB), in addition to our own accounting manual and interpretative accounting guidance. Updated every business day, the Technical Library has an intuitive design and navigation system. Powerful search features enable users to locate information quickly, at any time and from any computer. Additionally, Technical Library subscribers receive periodic e-mails highlighting recent additions to the Technical Library. Read more about the Technical Library.

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