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Finalized Discussion Documents Addressed in Joint Meetings of SEC Regulations Committee and SEC Staff

The following is a list of the finalized discussion documents addressed in joint meetings of SEC Regulations Committee and SEC Staff.

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NOTICE: The Center for Audit Quality (CAQ) SEC Regulations Committee meets periodically with the staff of the SEC to discuss emerging technical accounting and reporting issues relating to SEC rules and regulations. The purpose of the following highlights is to summarize the issues discussed at the meetings. These highlights have not been considered and acted on by senior technical committees of the CAQ or AICPA, or by the Financial Accounting Standards Board, and do not represent an official position of these organizations. In addition, these highlights are not authoritative positions or interpretations issued by the SEC or its Staff. The highlights were not transcribed by the SEC and have not been considered or acted upon by the SEC or its Staff. Accordingly, these highlights do not constitute an official statement of the views of the Commission or of the Staff of the Commission.

 

April 9, 2008 Joint Meeting Discussion Documents

• Document A - Impacts of FAS 141R and 160 on existing SEC filing and disclosure requirements
   
• Document B - Application of new accounting standards with different transition provisions for public and nonpublic companies in connection with an initial public offering
   
• Document C - Pro Forma MD&As - Amended as of June 9, 2008

October 11, 2007 Joint Meeting Discussion Documents

• Document A - Assessing the Age of Financial Statement Requirements Relating to an Acquired / To Be Acquired Business When the Registrant and the Acquiree Have Different Fiscal Year-Ends

• Document B - Financial Information Required in Registration Statements When there are Retrospective Accounting Changes as a Result of Eventual Adoption of Proposed FASB Staff Position ABP 14-a

• Document C - Application of Rule 3-05(b)(3) of Regulation S-X Regarding Financial Statements Used to Measure Significance When an Acquired or to be Acquired Business is a Successor to a Predecessor Company

• Document D - Application of Rules 3-10 and 3-16 of Regulation S-X to Automatic Shelf Registration Statements

• Document F - Application of Rules 3-09 and 4-08(g) of Regulation S-X to Investments Accounted for Using the Fair Value Option under SFAS No. 159 that Otherwise Would be Accounted for Under the Equity Method under APB 18

July 10, 2007 Joint Meeting Discussion Documents

• Document A- Reporting Requirements of Rule 4-08(g) of Regulation S-X for Periods in which the Investee is Less than 10% Significant

• Document B- When Rule 3-05 Financial Statements Must be Provided in Registration Statements Covering Secondary Offerings

• Document C- Applying Rule 3-09 of Regulation S-X to an Equity Method Investee in the Real Estate Industry

• Document D- When Stock Based Executive Compensation That Is Capitalized or Deferred Should Be Reported In The Summary Compensation Table

April 17, 2007 Joint Meeting Discussion Documents

• Document B – Application of FAS 158 in Connection with an Initial Public Equity Offering
  

• Document C – Applying SAB Topic 1.B.3. When the Dividend to be Paid Exceeds Both the Last Twelve Months Earnings and the Proceeds from the Equity Offering
  

• Document D – Financial Statement Requirements in an IPO When a Merger of Entities Under Common Control Occurs at the Closing Date

• Document E – Disclosure of FIN 48 Liabilities in the Contractual Obligations Table

• Document F – Determining the Amount of Interest on FIN 48 Liabilities to be Included in Fixed Charges for Purposes of Calculating the Ratio of Earnings to Fixed Charges

• Document G - Balance Sheet Updating Requirements Relating to the Non-Public General Partner of a Public Limited Partnership

• Document H- Timeliness of Executive Compensation Disclosures in the Form S-4 Registration Statement of a Well-Known Seasoned Issuer

• Document I – Grant Date Fair Value of Equity Award with Performance Conditions in Grants of Plan-Based Awards Table (Item 402(d)(2)(viii) of Regulation S-K)

• Document J – Application of Item 308T of Regulations S-K and S-B to a Non-Accelerated Filer That Early Adopts Internal Control Reporting by Management

• Document K – Determining Accelerated Filer Status for a Company that was Recently Spun-off from an SEC Registrant-Parent (Update to Discussion Document C from the June 2004 Joint Meeting)

September 26, 2006 Joint Meeting Discussion Documents

• Document A – Section 404 Reporting by Non-Accelerated Filers After Exiting Accelerated Filing
  
  
• Document B – Rule 3-09 Financial Statements in the Year in which an Investee is Disposed
  
  
• Document C – Treatment in Pre-Adoption Pro Forma Income Statement of Options Given to Employees of a Target in a Business Combination after the Acquirer has Adopted Statement 123(R)
  
  
• Document D – Labeling financial statement columns to indicate (1) a change in accounting principle, and (2) a correction of an error, as applicable
  
  
• Appendix A – Disclosures under FASB Interpretation No. 48 in Form 10-Q in the Period of Adoption (updated February 6, 2007)
  

June 20, 2006 Joint Meeting Discussion Documents

• Document A - Whether Parent Company Financial Information Is Required When the Registrant has a Consolidated Shareholders' Deficit
  
  
• Document C - Application of Regulation S-X Rule 3-05 "Financial Statements of Businesses Acquired or to be Acquired" and Rule 3-09 "Separate Financial Statements of Subsidiaries Not Consolidated and 50 Percent or Less Owned Persons" when the registrant is a successor to a predecessor company.
  
  
• Document D - Application of Rule 3-10 of Regulation S-X When a Subsidiary Issuer Files a Form 15
  
  
• Document E - FAS 123(R) Disclosures in Interim Periods during the Year of Adoption
  
  
• Document F - Financial Information Required in Registration Statements When there are Retrospective Accounting Changes
  
  
• Document G - Pro Forma Financial Information Required in Registration Statements upon Adoption of Statement 123(R) Using the Modified Prospective Transition Method

April 4, 2006 Joint Meeting Discussion Documents

• Determining when a large accelerated filer must file the financial statements of a 50 percent or less owned person under Regulation S-X Rule 3-09(b)(1)
  
  
• Application of SEC Staff Guidance on Discontinued Operations Cash Flows To Non-Calendar Year End Companies
  

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