EITF observer: A meeting synopsis - June 2012

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EITF observer 06/22/2012 by Assurance services
EITF observer: A meeting synopsis - June 2012

At a glance

At the EITF's June 21 meeting, the Task Force discussed the three Issues reaching a consensus-for-exposure on two Issues (12-B and 12-D). Further discussion is expected for one Issue (11-A). This edition of EITF observer provides a synopsis of the meeting.

At the EITF's June 21 meeting, the Task Force discussed the three Issues listed below. This edition of EITF observer provides a synopsis of the meeting.

Consensus-for-exposure

  • Issue 12-B—Not-for-Profit Entities: Contributed Services from an Affiliate
  • Issue 12-D—Accounting for Joint and Several Liability for Which the Total Amount of the Obligation is Fixed

Further discussion expected

  • Issue 11-A—Parent's Accounting for the Cumulative Translation Adjustment (CTA) upon the Sale or Transfer of a Group of Assets within a Consolidated Foreign Entity That Meets the Definition of a Business