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FASB: Revisions to SPE Accounting Coming Sept. 15

Tammy Whitehouse | September 4, 2008

If you're chomping at the bit to review and comment on the Financial Accounting Standards Board’s plans to revised off-balance-sheet accounting, mark Sept. 15 on your calendar. That’s the date FASB has signaled it will publish three separate exposure drafts to overhaul off-balance-sheet reporting of special interest entities.

Specifically, FASB said it will publish exposure drafts of proposed amendments to Statement No. 140 Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities and FASB Interpretation No. 46R Consolidation of Variable Interest Entities. FASB also plans to publish a proposed staff position, No. 140-e and FIN 46 (R)-e, addressing disclosures about transfers of financial assets and interests in variable interest entities.

FASB has been toiling on this area of Generally Accepted Accounting Principles under...

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