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FASB Staff Position: Recognition and Presentation of Other-Than-Temporary Impairments

Friday, March 27, 2009

The Financial Reporting Committee (“FRC”) of the Institute of Management Accountants (IMA) appreciates the opportunity to provide its views on the Exposure Draft of Proposed FASB Staff Position No. FAS 115-a, FAS 124-a, and EITF 99-20-b Recognition and Presentation of Other- Than-Temporary Impairments (the “Exposure Draft”). FRC is the financial reporting technical committee of the IMA. It is comprised of representatives from preparers of financial statements of some of the largest companies in the world and the largest accounting firms in the world, along with valuation experts, accounting consultants, academics and analysts. FRC reviews and responds to research studies, statements, pronouncements, pending legislation, proposals and other documents issued by domestic and international agencies and organizations.

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