EITF observer: A meeting synopsis - June 2011

EITF observer 06/24/2011 by Assurance services

At the June 23, 2011 EITF meeting, the Task Force discussed three Issues, reaching final consensuses on two Issues (Issue 09-H and Issue 10-H) and consensuses-for-exposure on one Issue (Issue 10-E).

If the final consensuses are ratified by the Financial Accounting Standards Board (FASB) at its July 13, 2011 meeting, the related Accounting Standards Updates (ASUs) will amend the FASB Accounting Standards Codification (ASC) and become final authoritative accounting guidance.

Final consensus

  • Issue 09-H—Health Care Entities: Presentation and Disclosure of Net Revenue, Provision for Bad Debts, and the Allowance for Doubtful Accounts
  • Issue 10-H— Fees Paid to the Federal Government by Health Insurers

Consensus-for-exposure

  • Issue 10-E—Accounting for Deconsolidation of a Subsidiary That Is In-Substance Real Estate