The final, final effective date on SFAS 141R

BVWireIssue #49-4
October 25, 2006

Another information-packed session at the CICBV/ASA conference focused on emerging issues at FASB, including an update by Richard Billovits, MBA (PricewaterhouseCoopers) on SFAS 141R. Now in its second phase of re-deliberations, the Board’s continuing objective is to create “one worldwide standard” for business combination accounting, Billovits said. Expect to see a final statement during the second half of 2007—and an effective date applying to annual periods beginning on or after January 1, 2009.

In the meantime, the Board plans to issue an FSP (FASB Staff Position) to clarify the existing guidance regarding fair value measurements in statements 141, 142 and 144. This is according to its latest Technical Plan—October 1, 2006 through March 31, 2007, available by clicking here.

Please let us know if you have any comments about this article or enhancements you would like to see.