Financial Accounting Standards Board Act

Summary

Financial Accounting Standards Board Act - States that the duty of the Financial Accounting Standards Board (FASB) is to establish and improve standards of financial accounting and reporting. Cites general principles and operating objectives to be followed when establishing financial accounting and reporting standards. Instructs the FASB to develop additional standards relating to: (1) off-balance-sheet accounting practices and standards, and accounting requirements for special-purpose entities, in a manner that is based on principles for determining bona fide economic control; and (2) marked-to-market accounting, including consideration of fair value to agreements involving commitments on the part of an issuer. Instructs the FASB to complete work on: (1) the project entitled "Measuring All Financial Assets and Liabilities at Fair Value;" and (2) the proposal entitled "Proposal for new agenda project: Issues relating to the recognition of revenues and liabilities."

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 27 June 2002

   Introduced

   Referred to the House Committee on Energy and Commerce.

   Source: IntroReferral

2. 27 June 2002

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 June 2002

   Introduced

   Introduced in House

   Source: IntroReferral

4. 10 July 2002

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

5. 10 July 2002

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

6. 10 July 2002

   Referred

   Referred to the Subcommittee on Commerce, Trade and Consumer Protection.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 27 June 2002 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 June 2002

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 27 June 2002

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 27 June 2002

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Stearns, Cliff [R-FL-6] · R · Sponsor
• Rep. Greenwood, James C. [R-PA-8] · R · Sponsor
• Rep. Bilirakis, Michael [R-FL-9] · R · Sponsor
• Rep. Barton, Joe [R-TX-6] · R · Sponsor
• Rep. Upton, Fred [R-MI-6] · R · Sponsor
• Rep. Gillmor, Paul E. [R-OH-5] · R · Sponsor
• Rep. Walden, Greg [R-OR-2] · R · Sponsor
• Rep. Terry, Lee [R-NE-2] · R · Sponsor
• Rep. Tauzin, W. J. (Billy) [R-LA-3] · R · Sponsor
• · hsif00 · Standing

Related records

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