FSA 199915011 undoubtedly will not be the last word on the subject, particularly since the Emerging Issues Task Force
took a position at odds with the IRS (see page 94).
In addition, he has been a member of the Emerging Issues Task Force
, the FASB Financial Instruments Task Force, the Financial Accounting Standards Committee of the American Accounting Association, and the SEC Practice Section Executive Committee of the AICPA.
Consensus Positions of the FASB Emerging Issues Task Force
(EITF) and AICPA Practice Bulletins.
Also, FEI made a major effort to have more influence with the Financial Accounting Standards Board (FASB), the Emerging Issues Task Force
and Financial Accounting Foundation.
Previously, under Emerging Issues Task Force
AFTER TWO WEEKS OF BACK-AND-FORTH DELIBERATIONS AT THE END OF SEPTEMBER, members of the Emerging Issues Task Force
(EITF) of the Financial Accounting Standards Board (FASB) decided against use of an extraordinary item treatment for losses incurred in connection with the September 11 terrorist attacks.
CARL KAMPEL, CPA (Baltimore Chapter), was appointed to the Financial Accounting Standards Board (FASB) Emerging Issues Task Force
For additional reference, there is a topical index to data addressed in the Original Pronouncements and Current Text, Issues Examined by the Emerging Issues Task Force
(EITF), and the FASB's question-and-answer Special Reports.
The board decided that, in the interim while the standard is being developed, the Emerging Issues Task Force
should continue to provide guidance on issues of revenue recognition based on the existing authoritative literature.
However, seven Concepts Statements, over 150 Statements of Financial Accounting Standards (FAS) and over 500 Emerging Issues Task Force
(EITF) consensuses, FASB Interpretations, Technical Bulletins, FASB Staff Positions (FSP) later--besides additional guidance from the American Institute of Certified Public Accountants (AICPA) and regulatory accounting pronouncements (RAP)--one may wonder if financial reporting has become an end in itself.