EITF Abstracts is a two-volume summary of the proceedings of the Emerging Issues Task Force since its inception in 1984—Volume 1 (1984–1999) and Volume 2 (2000–present). Each Abstract comprises a summary of each Issue as discussed by the Task Force and any consensus reached, the Issue’s current status and any subsequent developments, and a comprehensive topical index. This edition is current as of September 11, 2007, and includes, in the relevant status sections, the impact of various new FASB pronouncements, through FASB Statement No. 159, The Fair Value Option for Financial Assets and Financial Liabilities. |