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Financial Accounting Standards
Committee
FASC Original
Comment Letters
Charge:
Coordinate all
Association activities with respect to financial accounting standard setting.
Specifically:
- Evaluate selected
discussion memoranda, exposure drafts, and other documents related to financial
accounting and reporting in the private sector as they are released by the
FASB, IASB, and other accounting standard-setting groups, and respond to those
groups in writing and by appearing at selected public hearings.
- Stay cognizant of
emerging issues related to financial accounting and reporting in the private
sector through materials issued by the Emerging Issues Task Force and other
relevant sources, and evaluate, where appropriate, the significance and
potential implications of such issues.
- Meet with the FASB,
normally on an annual basis.
- Recognize emerging
international issues related to financial accounting, reporting and auditing;
alert others inside the Association about their importance to determine the
likely
significance and potential implications of such issues.
- Explore the publication
of selected responses by the committee in Accounting Horizons or other
appropriate outlets.
- Consider and promote
ways to increase the quantity and quality of academic input to the
standard-setting process.
- Provide a progress
report to the Executive Committee liaison in time to be included in the agenda
book for each Executive Committee meeting.
Chair:
Professor Laureen Maines
School of Business-Dept of Atg & Info Systems
Indiana University
1309 E. 10th Street
Bloomington IN 47405
Phone number: 812-855-2611
Fax number: 812-855-4985
e-mail address: lmaines@indiana.edu
Members:
Proposed EC Liaison
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Committees
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