Emerging Issues Task Force

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Emerging Issues Task Force

A standing committee formed by the Financial Accounting Standards Board with a directive to investigate and make recommendations on issues in accounting as they arise. It seeks to establish uniform practices on new issues before divergent practices become widely accepted for different regions and/or firms. To this end, the EITF holds public meetings from time to time to discuss new issues and to receive input on the recommendations it ought to make. It consists of accountants from the larger accounting firms and the chief accountant at the SEC.

References in periodicals archive ?

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).

Pay now or defer: no income deferral if services are involved

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.

Robert Herz named FASB chairman. (News)

Consensus Positions of the FASB Emerging Issues Task Force (EITF) and AICPA Practice Bulletins.

Tax Court introduces financial statement materiality into the tax law

Sondhi is a current member of the Emerging Issues Task Force (EITF) of the FASB and co-author of the 2008 Revenue Recognition Guide.

Revenue Recognition Authority Offers Strategies for Convergence of Accounting Standards: A Softrax Webcast

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.

Leadership's role in shaping and sustaining FEI: the commitment, countless hours and unique qualities of FEI's volunteer leadership have largely contributed to making the organization what it is today. A snapshot of the leadership challenges through the decades--both inside and outside of the Controllers Institute of America (now FEI)

Previously, under Emerging Issues Task Force Issue No.

Official releases. (Official Literature)

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.

EITF: No Extraordinary Treatment for Terrorist Attack Costs

He is currently a member of the Emerging Issues Task Force (EITF) of the FASB and co-author of the 2008 Revenue Recognition Guide.

IFRS and Revenue Recognition: A Softrax Executive Webcast

CARL KAMPEL, CPA (Baltimore Chapter), was appointed to the Financial Accounting Standards Board (FASB) Emerging Issues Task Force (EITF).

Names in the news

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.

FASB accounting standards--current text. (2003 AICPA Marketplace)

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.

FASB adds revenue recognition project to its agenda. (accounting & auditing news)

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.

The relevance of reliability: an update on the FASB and IASB joint conceptual framework project