Status of FASB Staff Position FAS 141(R)-1

Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies


Date Posted:
April 1, 2009

Effective Date:
For assets or liabilities arising from contingencies in business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008

Amends FAS 5, paragraph 7A
Amends FAS 60, paragraph 59D
Amends FAS 141(R), heading following paragraph 22, paragraphs 30, 60, 68, 68(j), A107, and G3
Replaces FAS 141(R), paragraphs 24 and 62
Adds FAS 141(R), paragraphs 24A and 65A
Deletes FAS 141(R), paragraphs 25, 63, 72(c), and A62 through A65

Affected by:
No other pronouncements

Abbreviations for Accounting Pronouncements

FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides