Volume 12, No. 15

 

2003:  Accounting Issues Review & Preview, Part I  The year's almost passed, and there haven't been many new accounting standards - at least in terms of sheer numbers. In terms of sheer anxiety on the part of preparers and auditors, however, there's been plenty as they ready themselves for implementing the ones that were issued in 2003. FASB Interpretation No. 46 and FASB Statement No. 150 generated that anxiety, and in truth, were the two most noteworthy standards issued by the Board in 2003. Only two noteworthy standards in a year? You might think there's no sense of urgency at the FASB in a Sarbanes-Oxley world. Nothing could be further from the truth, and the evidence is found in the FASB agenda for the coming year. It's quite an ambitious set of goals.This report summarizes the more critical pronouncements of the year and previews what lies ahead for companies and analysts as the FASB progresses on its 2004 plans.

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