TITLE

EITF's Reversal Recognizes Uncertainties

AUTHOR(S)
Heffes, Ellen M.
PUB. DATE
November 2001
SOURCE
Financial Executive;Nov2001, Vol. 17 Issue 8, p58
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses an abrupt reversal of opinion by the Emerging Issues Task Force (EITF) of the U.S. Financial Accounting Standards Board (FASB). On September 20, 2001 the EITF tentatively decided that many losses stemming from the September 11, 2001 terrorist attacks could be classified as extraordinary items for accounting purposes. Several days later, however, it decided otherwise. Commentary is presented from EITF chairman Timothy S. Lucas explaining the factors leading to the sudden change of policy.
ACCESSION #
11863098

 

Related Articles

  • Why Sept. 11 Wasn't 'Extraordinary' Item. Cziborr, Chris // Orange County Business Journal;7/29/2002, Vol. 25 Issue 30, p39 

    Debates whether the U.S. Financial Accounting Standards Board should consider the financial statements of companies affected by the September 11, 2001 terrorist attack as an extraordinary item. Conclusion of the board; Basis for the conclusion.

  • Out of the Ordinary. Naughton, Keith // Newsweek;10/15/2001, Vol. 138 Issue 16, p9 

    Reports that the Financial Accounting Standards Board has determined that the September 11, 2001 terrorist attacks against the United States do not qualify as an extraordinary item for bookkeeping purposes. Reasons for this classification; Response to the decision.

  • financialREPORTING. Heffes, Ellen M. // Financial Executive;Nov2001, Vol. 17 Issue 8, p58 

    The article discusses an abrupt reversal of policy by the Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board (FASB). On September 20, 2001, the EITF tentatively decided that losses stemming from the September 11, 2001 terrorist attacks could, in many cases, be...

  • Sept. 11: Nothing extraordinary? Boorstin, Julia // Fortune;10/29/2001, Vol. 144 Issue 8, p189 

    Reports that the Financial Accounting Standards Board has determined that the September 11, 2001 terrorist attacks on the United States can not be counted as extraordinary items on corporate earnings statements. Reasons for the decision; Implications.

  • Sept. 11: Nothing extraordinary? Boorstin, Julia // Fortune International (Europe);10/29/2001, Vol. 144 Issue 8, p83 

    Reports that the Financial Accounting Standards Board has determined that the September 11, 2001 terrorist attacks on the United States can not be counted as extraordinary items on corporate earnings statements. Reasons for the decision; Implications.

  • financialREPORTING. Heffes, Ellen M. // Financial Executive;Nov2001, Vol. 17 Issue 8, p58 

    The article discusses an abrupt reversal of policy by the Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board (FASB). On September 20, 2001, the EITF tentatively decided that losses stemming from the September 11, 2001 terrorist attacks could, in many cases, be...

  • financialREPORTING. Heffes, Ellen M. // Financial Executive;Nov2001, Vol. 17 Issue 8, p58 

    The article discusses an abrupt reversal of policy by the Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board (FASB). On September 20, 2001, the EITF tentatively decided that losses stemming from the September 11, 2001 terrorist attacks could, in many cases, be...

  • TAKING THE RISK OUT OF TRAINING. HORTON, BARRY // Training & Development (1839-8561);Oct2017, Vol. 44 Issue 5, p20 

    The article discusses the term risk management, which is associated with actions or measures taken in avoidance of catastrophic events and associated impacts on social and economic conditions. Topics discussed include efforts of Ulrich Beck, a sociologist in understanding the concepts of risk in...

  • financialREPORTING. Heffes, Ellen M. // Financial Executive;Nov2001, Vol. 17 Issue 8, p58 

    The article discusses an abrupt reversal of policy by the Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board (FASB). On September 20, 2001, the EITF tentatively decided that losses stemming from the September 11, 2001 terrorist attacks could, in many cases, be...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics