United States

Defining Issues: EITF Reaches Final Consensuses on Cumulative Translation Adjustments and Joint and Several Liability Arrangements

Jan 18, 2013
From the Financial Reporting View and the IFRS Institute

The FASB's Emerging Issues Task Force (EITF) discussed seven issues at its Jan. 17, 2013, meeting and reached final consensuses on two issues: (1) accounting for the cumulative translation adjustment upon certain derecognition events; and (2) accounting for joint and several liability arrangements.

Defining Issues: EITF Reaches Final Consensuses on Cumulative Translation Adjustments and Joint and Several Liability Arrangements