Effective date on FSAS 141(R) deferred

BVWireIssue #49-2
October 11, 2006

FASB has recently postponed the effective date for SFAS 141(R), Business Combinations: Applying the Acquisition Method, from fiscal years beginning after December 15, 2006 (the orginal date in the Exposure Draft) to sometime in 2007. “The new FAS is not expected to be issued until the 2nd quarter of 2007,” says William Probus (Crowe Chizek and Co., LLC), a member of FASB’s Appraisal Issue Task Force, “and clearly the effective date will be pushed back.”

FASB has “yet to determine the new effective date,“ agrees Warren Miller (Beckmill Research). “My guess is that it'll be after December 15, 2007, at best.” Stay tuned to BVWire for further details; for the most recent, related FASB pronouncement, click here.

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