FASB pushes forward with five of six FSPs

Accounting news from Marty Rosenblatt, Deloitte & Touche.

At the Financial Accounting Standards Board meeting this morning, the Board decided to proceed with the issuance of final FASB Staff Positions (FSPs) on only five of the six FIN 46 topics (which are expected to be posted this Friday on FASB’s Web site).

The staff indicated that it is still considering possible revisions to the remaining proposed FIN 46 FSP on Treatment of fees paid to decision makers and guarantors in determining expected losses and expected residual returns of a variable interest entity, based on comments received, and that it is possible that this FSP will need to be re-exposed for public comment, depending on the nature and extent of the revisions they plan on making.

Rosenblatt is a partner with Deloitte & Touche. The views expressed in this brief are his own and not necessarily of Deloitte & Touche.