Financial Reporting

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Taskforces

Members of Financial Reporting Advisors have participated in many taskforces on numerous financial reporting topics. Here are some examples.

Derivatives - Our Credentials:

  • FASB's Financial Instruments Task Force
  • AICPA Financial Instruments Task Force
  • FASB's Derivative Implementation Group
  • EITF working groups for:
    • Issue 91-4, Hedging Foreign Currency Risks with Complex Options and Similar Transactions
    • Issue 95-11, Accounting for Derivative Instruments Containing both a Written Option-Based Component and a Forward-Based Component
    • Issue 98-10, Accounting for Contracts Involved in Energy Trading and Risk Management Activities
 

Consolidations - Our Credentials:

  • FASB Consolidations Working Group
  • EITF working groups for:
    • Issue 90-15, Impact of Nonsubstantive Lessors, Residual Value Guarantees, and Other Provisions in Leasing Transactions (generally referred to as accounting guidance for SPEs)
    • Issue 96-16, Investor's Accounting for an Investee When the Investor has a Majority of the Voting Interest But the Minority Shareholder or Shareholders Have Certain Approval or Veto Rights
    • Issue 98-6, Investor's Accounting for an Investment in a Limited Partnership When the Investor is the Sole General Partner and the Limited Partners Have Certain Approval or Veto Rights

 

 

 

 Revenue Recognition - Our Credentials:

  • FASB/IASB Joint Transition Resource Group for Revenue Recognition related to the 2014 issuance of Revenue from Contracts with Customers (ASC Topic 606/ IFRS 15)
  • Implementation Working Group on SEC Staff Accounting Bulletin No. 101, Revenue Recognition
  • EITF working groups for:
    • Issue 91-6, Revenue Recognition of Long-Term Power Sales Contracts
    • Issue 00-21, Revenue Arrangements with Multiple Deliverables
    • Issue 00-25, Vendor Income Statement Characterization of Consideration Paid to a Reseller of the Vendor's Products

Income Taxes - Our Credentials:

  • FASB's Implementation Group
  • FASB's project for the reconsideration of FASB Statement No. 96, Accounting for Income Taxes
  • EITF working groups for:
    • Issue 91-3, Accounting for Income Tax Benefits from Bad Debts of a Savings and Loan Association
    • Issue 94-1, Accounting for Tax Benefits Resulting from Investments in Affordable Housing Projects
    • Issue 98-11, Accounting for Acquired Temporary Differences in Certain Purchase Transactions That Are Not Accounted for as Business Combinations
Other Topics - Our Credentials:
  • FASB's Valuation Resource Group for implementation issues on FASB Statement No. 157, Fair Value Measures
  • AICPA Statement of Position No. 96-1, Environmental Remediation Liabilities
  • FASB's Financial Accounting Standards Advisory Committee (FASAC)
  • IASB's IFRS Interpretations Committee (IFRIC)
  • SEC Regulations Committee

 

We have also written numerous comment letters to standards setters on these and other topics. See our Publications page for examples of our comment letters.

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100 No. LaSalle Street
Suite 2215
Chicago, IL 60602

ph: 312-345-9101
fax: 312-345-9110

admin@finra.com