FASB financial accounting & reporting

TOPICS / ACCOUNTING & REPORTING

April 1, 2007

Frontline Reaction to FASB 123(R)

EXECUTIVE SUMMARY The issuance of FASB Statement no. 123(R) forced companies to make several important decisions about their use of stock options as a compensation tool, to select the right valuation model and minimize the impact on financial reporting and public disclosure. A survey showed companies

March 1, 2007

Financial Reporting

The commission’s amendment will align the reporting of equity awards in the Summary Compensation Table and the Director Compensation Table to the amounts that are disclosed in the financial statements under Statement no. 123(R), which requires recognition of the costs of equity awards over the period in which an employee

February 1, 2007

Changes in Accounting for Changes

EXECUTIVE SUMMARY Companies have always faced a major issue of how to reflect changes in accounting methods and error corrections in financial statements. In 2005 FASB issued Statement no. 154, Accounting Changes and Error Corrections. The new rules are effective for fiscal years ending after December

September 1, 2001

Say Good-Bye to Pooling and Goodwill Amortization

EXECUTIVE SUMMARY NEW FASB STANDARDS prohibit the pooling-of-interests method of accounting for business combinations and require a purchase accounting method that does not allow goodwill amortization. The standards are a radical change, and management accountants, auditors and financial executives must understand and work with a very different accounting process.