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The look ahead: Sessions on accounting for financial instruments; U.S. and Brazil leaders hold economic talks

 

April 5, 2012

In the week ahead: FASB will meet with the Emerging Issues Task Force and hold several education sessions. The IFRS Foundation trustees will meet in London. And President Barack Obama and Brazilian President Dilma Rousseff will meet in Washington to continue dialogue on energy and economic issues.

FASB education sessions

FASB will hold two board meetings and several education sessions in the week ahead.

On Monday, the board will meet with the Emerging Issues Task Force (EITF) at 9 a.m. EDT. After the meeting, FASB will hold an education session on accounting for financial instruments. The session, which will focus on disclosures and insurance contracts, runs from 9:30 to noon.

Later that day, FASB will hold another session on fair market value. That session, from 3 to 4 p.m., will cover measurement uncertainty disclosures.

On Wednesday, from 7:30 to 8:30 a.m., FASB will discuss disclosures related to accounting for financial instruments. Education sessions will follow from 8:30 a.m. to 4 p.m. on:

  • Insurance contracts.
  • Fair value measurement—measurement uncertainty disclosures.
  • The definition of nonpublic entities.
  • Accounting for financial instruments—impairment.


FASB provides access to certain meetings via
webcast on its website.

IFRS Foundation trustees

The IFRS Foundation trustees will meet April 13 in London.

IASB Chairman Hans Hoogervorst will report to the trustees, who also will hear reports from the Due Process Oversight Committee and the Education & Content Services Committee, as well as IFRS Advisory Council Chairman Paul Cherry.

The meeting will be available via webcast.

U.S.-Brazil talks

Brazilian President Dilma Rousseff will be in Washington on Monday. The leader of the fast-growing South American country, which last year passed the U.K. to become the world’s sixth largest economy, is meeting with President Barack Obama at the White House to continue dialogue regarding the growing partnership between the two nations.

The presidents are expected to follow up on Obama’s visit to Brazil in March 2011, when the leaders discussed energy policy and other economic and financial issues.

The leaders also are expected to meet with the U.S.-Brazil CEO Forum, a group formed by the two governments to strengthen economic and commercial ties. Brazil’s growing middle class has drawn plenty of interest from U.S. companies. And business prospects in both countries, particularly among manufacturers, have been on the rise.

“The United States and Brazil should expand trade, expand investment, so that we create new jobs and new opportunities in both of our nations,” Obama said during his 2011 visit to Brazil. “And that’s why we’re working to break down barriers to doing business. That’s why we’re building closer relationships between our workers and our entrepreneurs. Together we can also promote energy security and protect our beautiful planet.”

On April 13, Obama and Rousseff will be among the 34 heads of state scheduled to attend the sixth Summit of the Americas in Cartagena, Colombia. The summit, which occurs every three years, gives countries the chance to develop an agenda for the Western Hemisphere. The theme of the summit, “Connecting the Americas: Partners for Prosperity,” will focus on regional cooperation regarding solutions to poverty, inequality, security, and access to technologies, among other issues.

For more previews of international economic news in the week ahead, visit CGMA Magazine.

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