After its meeting on September 11, the FASB’s Emerging Issues Task Force (EITF) reached a final consensus on three out of five issues, reports KPMG in its current newsletter, Defining Issues. The three final consensuses—which the FASB must affirm before releasing—include:
Not-for-profit entities: classification of the sale of donated securities in the statement of cash flows;
Subsequent accounting for an indemnification asset recognized at the acquisition date as a result of a government-related acquisition of a financial institution; and
Accounting for fair value information that arises after the measurement date and its inclusion in the impairment analysis of unamortized film costs.