Impairment of financial instruments on FASB meeting agenda

BY KEN TYSIAC
August 15, 2012

FASB will continue its discussion of impairment of financial instruments during its board meeting on Aug. 22.

A decision by FASB last month to address a number of topics and constituent concerns in the joint project with the International Accounting Standards Board (IASB) was met with frustration by IASB Chairman Hans Hoogervorst, who is eager to move forward with the project.

The IASB does not meet this month, and FASB Chairman Leslie Seidman has said FASB’s staff will work expeditiously on the project.

FASB’s meeting, as well as educational sessions on accounting for instruments—classification and measurement; insurance; consolidation policy and procedure; and investment companies will be available by webcast on the board’s site.

Ken Tysiac ( ktysiac@aicpa.org ) is a JofA senior editor.

PROFESSIONAL DEVELOPMENT: EARLY CAREER

Making manager: The key to accelerating your career

Being promoted to manager is a key development in a young public accountant’s career. Here’s what CPAs need to learn to land that promotion.

PROFESSIONAL DEVELOPMENT: MIDDLE CAREER

Motivation and preparation can pave the path to CFO

CPAs in business and industry face intense competition to land a coveted CFO job. Learn how to best prepare yourself for the role.

PROFESSIONAL DEVELOPMENT: LATE CAREER

Second act: Consulting

CPAs are using experience to carve out late-career niches. Learn how to successfully make a late-career transition to consulting, from CPAs who have done it.