Subsequent Events

FASB Amends Subsequent Events Rule to Square With SEC

Tammy Whitehouse February 25, 2010

Public companies now have a new requirement to follow in accounting for events that take place after a financial statement period ends but before the statements are issued.The Financial Accounting Standards Board published Accounting Standards Update No. 2010-09 to amend Accounting Standards Codification Topic 855, Subsequent Events, which describes how...

FASB Finalizes Changes on Consolidation, Equity

Tammy Whitehouse January 07, 2010

The Financial Accounting Standards Board has issued some new updates to the Accounting Standards Codification to revise existing rules on consolidation, equity, and oil and gas reserve accounting.In Accounting Standards Update No. 2010-02, the FASB clarifies the types of transactions that should be accounted for as a decrease in ownership...

FASB Adopts New Rule on Subsequent Events

Tammy Whitehouse May 28, 2009

The Financial Accounting Standards Board has published its final word on when companies should consider the effects of “subsequent events,” or game-changing events that occur after the balance sheet date but before financial statements for the period are published.Financial Accounting Standard No. 165: Subsequent Events is intended to clarify when...

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