November 5, 2008
FASB: Proposes Tweaks to FAS 141R, Business Combinations
Last week, the FASB agreed at its board meeting to provide guidance on the soon-to-be-effective FAS 141R, Business Combinations by issuing a proposed FASB Staff Position regarding assets and liabilities arising from contingencies in a business combination. The FSB will likely become final around mid-January. We have posted a memo on this development in our “Accounting” Practice Area.