FASB has announced a reprieve from the December 15, 2010 effective date of the board’s proposed FAS 5 revisions. An effective date will be decided at a future meeting, after redeliberations. While this does not constitute a satisfactory resolution of … Continue reading →

ACC filed, on September 20, an addendum to its comments on proposed changes to the financial loss contingency disclosure rules with the Financial Accounting Standards Board (FASB) in order to add another 40 signatories. Including signatories on the August 18 … Continue reading →

ACC And 135 CLOs Statement Protesting Amendments to FAS 5 Under Consideration by FASB at Their March 6 Hearing For more on FAS 5 Proposals Top Ten Reasons for Corporate Counsel to be Concerned about Proposed FAS 5 Amendments ACC’s … Continue reading →

The Financial Accounting Standards Board’s (FASB) recent decision to extend to Dec. 31, 2009, the proposed effective date of a new expanded standard for reporting loss contingencies may be a mixed blessing for general counsel and the defense bar. The … Continue reading →

The Financial Accounting Standards Board probably expected some flak when it announced in June its intent to broaden required disclosures on the potential costs of corporate litigation. What the board got, however, was a fusillade. Read the full story

August 8, 2008 – ACC files addendum to its July 25, 2008 comments with the Financial Accounting Standards Board (FASB) protesting proposed changes to the FAS 5 financial loss contingency disclosure rules. The proposed rule, if adopted, will force companies … Continue reading →