Accounting and Financial Reporting – FinREC Positions

The Financial Reporting Executive Committee (FinREC) has issued the following comment letters to communicate its views and positions on accounting and financial reporting proposals issued by standard setters, such as FASB, GASB, and the IASB.

Letters to FASB
May 31, 2013, comment letter on Financial Instruments—Credit Losses December 11, 2012, comment letter on FASB's Invitation to Comment (ITC), Disclosure Framework October 8, 2012, comment letter on the FASB Exposure Draft of a Proposed Accounting Standards Update, Financial Instruments (Topic 825), Disclosures about Liquidity Risk and Interest Rate Risk October 4, 2012, comment letter on the FASB Accounting Standards Update (ASU), Presentation of Financial Statements--The Liquidation Basis of Accounting April 19, 2012, comment letter on the FASB Accounting Standards Update (ASU), Intangibles—Goodwill and Other (Topic 350) - Testing Indefinite-Lived Intangible Assets for Impairment March 13, 2012, comment letter on the FASB Exposure Draft of a Proposed Accounting Update (ASU), Revenue from Contracts with Customers February 14, 2012, comment letter on the FASB Accounting Standards Update (ASU), “Consolidation (Topic 810): Principal versus Agent Analysis” February 14, 2012, comment letter on the FASB Accounting Standards Update (ASU), “Financial Services—Investment Companies (Topic 946): Amendments to the Scope, Measurement, and Disclosure Requirements” February 14, 2012, comment letter on the FASB Accounting Standards Update (ASU), “Real Estate—Investment Property Entities (Topic 973)” December 19, 2011 comment letter on the FASB Proposed Accounting Standards Update, Technical Corrections June 3, 2011, FinREC comment letter on FASB Accounting Standards Update (ASU) Intangibles—Goodwill and Other (Topic 350) - Testing Goodwill for Impairment April 29, 2011, FinREC comment letter on the FASB Exposure Draft of a Proposed Accounting Update (ASU) Balance Sheet (Topic 210) - Offsetting March 30, 2011, comment letter on the Supplementary Document Accounting for Financial Instruments and Revisions to the Accounting for Derivatives Instruments and Hedging Activities-Impairment (File Reference No. 2011-50) January 28, 2011, AICPA comment letter on the FASB Discussion Paper Effective Dates and Transition Methods Archived comment letters to FASB.
Letters to FAF
April 30, 2013, comment letter on FAF's Exposure Draft, GASB's Scope of Authority: Proposed Changes to Agenda-Setting Processes
Letters to FASAB
January 29, 2013, comment letter on the Exposure Draft, Deferral of the Transition to Basic Information for Long-Term Projections Archived comment letters to FASAB.
Letters to GASB
September 27, 2012, comment letter on GASB’s Exposure Draft Accounting and Financial Reporting for Nonexchange Financial Guarantee Transactions June 18, 2012, comment letter on GASB's Exposure Draft Government Combinations and Disposals of Government Operations March 16, 2012, comment letter on GASB's Preliminary Views, Economic Condition Reporting: Financial Projections November 28, 2011, comment letter on GASB’s Exposure Draft Reporting Items Previously Recognized as Assets and Liabilities September 22, 2011, comment letter on GASB’s Exposure Drafts Accounting and Financial Reporting for Pensions an amendment of GASB Statement No. 27 and Financial Reporting for Pension Plans an amendment of GASB Statement No. 25 September 22, 2011, comment letter on GASB’s Preliminary Views Recognition of Elements of Financial Statements and Measurement Approaches March 11, 2011, comment letter on GASB's Exposure Draft Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position Archived comment letters to GASB
Letters to IASB
November 30, 2011, comment letter on IASB's Agenda Consultation 2011 March 30, 2011, AICPA letter to the IFRS Foundation Monitoring Board January 10, 2011, comments on IFRS Foundation Trustees’ November 5, 2010, consultation paper Status of Trustees’ Strategy Review Archived comment letters to IASB
Letters to SEC
August 17, 2011, comments on the May 26, 2011 SEC Staff Paper, Work Plan for the Consideration of Incorporating international Financial Reporting Standards into the Financial Reporting System for U.S. Issuers - Exploring a Possible Method of Incorporation Archived comment letters to SEC

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