Case Solutions Deloitte

5660 words 23 pages
Addenda Summary-2011
Note: Due to the issuance of certain new accounting literature, changes in the status of ongoing projects during the past year, or evolution of practice, the following updates to the existing cases should be noted.

Case 03-5a Part I: Trademark
Subsequent to the release of the Exposure Draft issued by the FASB and IASB in June 2010 the Boards received a number of comments and is currently reviewing and analyzing these comments. A revised draft of the Exposure Draft is expected in Q3 of 2011. We encourage users of this case study to follow this project and review the FASB’s and IASB’s Web site for updates.

Case 04-9: Healthcare Depot
On April 22, 2011, the FASB issued a Proposed Accounting Standards Update,
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We encourage users of this case study to follow this project and review the FASB’s and IASB’s Web site for updates.

Case 08-3: Hedge Documentation
As of the end of May 2011, the FASB has not yet begun deliberations of comments received on the hedge accounting proposals included in its May 2010 proposed ASU. However, the FASB has continued to monitor the IASB’s project to amend the hedge accounting requirements currently included in IAS 39, Financial Instruments: Recognition and Measurement. In December 2010, the IASB issued its exposure draft (ED), Hedge Accounting. The IASB’s proposed model focuses on an entity’s risk management objectives as the basis for hedge accounting. In February 2011, the FASB issued a discussion paper (DP), Selected Issues About Hedge Accounting, to obtain feedback on the IASB’s ED; comments on the DP were due by April 25, 2011. The FASB intends to consider the feedback received on the IASB’s proposal during its redeliberations of the May 2010 hedge accounting proposals. The FASB has not yet indicated a specific timeline for when it plans to start such redeliberations.

Case 08-4: Bear Minimum
On August 17, 2010, the FASB and IASB took a significant step toward revamping existing lease accounting rules by issuing an exposure draft (ED) outlining the boards’ views on a new accounting model. The boards began redeliberations in January 2011 and expect to issue a final standard late in 2011. The issuance of a final standard could be


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