Financial Reporting


FASB issued as final two staff positions—FSP SOP 94-6-1, Terms of Loan Products That May Give Rise to a Concentration of Credit Risk, and FSP AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans —that clarify and, where necessary, amend earlier guidance. The board also issued a proposed FSP, Amortization and Impairment of Acquired Renewable Intangible Assets. Comments on it are due March 27, 2006. ( www.fasb.org/fasb_staff_positions ).

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QUIZ

News quiz: Senate health care bill in the spotlight

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