FASB Staff Position - Accounting for Assets Acquired and Liabilities Assumed in a Business Combination that Arise from Contingencies
Tuesday, January 13, 2009
The Financial Reporting Committee (the FRC) of the Institute of Management Accountants (IMA) appreciates the opportunity to comment on the Financial Accounting Standards Board’s (the Board or FASB) proposed FASB Staff Position No. FAS 141(R)-a, Accounting for Assets Acquired and Liabilities Assumed in a Business Combination that Arise from Contingencies (the proposed FSP). FRC is the financial reporting technical committee of the IMA. The Committee reviews and responds to research studies, statements, pronouncements, pending legislation, proposals and other documents issued by domestic and international agencies and organizations.