Jetzt haben wir den Grund für die financial rally: FASB 157 partially delayed mT

verfasst von DT, 14.11.2007, 23:41

-->Hallo,

und wieder ein Beispiel, wie das System einfach die Spielregeln ändert. Die morgen in Kraft tretende FASB 157, die die level III assets regeln sollte, wird teilweise erst 1 Jahr!! später in Kraft gesetzt. Und zwar für nonfinancial assets. Frage an die Accounting-Experten jetzt: sind SIVs, ABS, CMBSs etc nonfinancial oder financial assets. Und wenn nicht: was sollte dann die ganze Verschiebung? Nur so kann man GS, JPM, MS etc helfen, deren level III assets höher als 100% des EK sind. Natürlich wußten diese Player schon wieder davon vor ein paar Tagen, daher diese Sucker-Rallye bei den Financials in den letzten Tagen. Aber wer Augen hat zu sehen, der schaut hinter diese ganzen potemkinschen Dörfer der bekanntgegebenen Zahlen (siehe heute GS). Angeblich keine Verluste.

Eines zeigt diese Aktion klarer denn je: wenn man zu solchen Mitteln greift, ist die Hütte mehr als am Brennen. Zum Schluß werden dann noch die Regeln guter Buchführung ausser Kraft gesetzt, wie in den letzten Jahren bei FNM und FRE. Und ganz zum Schluß, bevor das System kollabiert, werden einfach Minuszeichen./. und <font color=#FF0000>rote Tinte</font> per Dekret von GWB abgeschafft wegen"Unterstützung des Terrorismus".

Hier die Links zum selber überprüfen.

Hilfe von den Wirtschaftsprüfern/Buchhaltern/Finanzjuristen an Bord ist mehr als willkommen!

Danke, DT



http://www.financialweek.com/apps/pbcs.dll/article?AID=/20071114/REG/71114011/1036

FASB grants partial delay on fair value

By Andrew Osterland
November 14, 2007

The Financial Accounting Standards Board voted to defer the implementation date of FAS 157, its rule for how to mark to market assets and liabilities, for all non-financial items except for those already reported at fair value on a recurring basis.

The accounting standard, which FASB voted not to entirely defer last month, goes into effect for all companies starting tomorrow. It articulates a new framework for determining fair-value measurements of assets and liabilities, though it does not require that such measurements be made in any new areas. Many financial companies adopted the standard earlier this year and have struggled to implement it because of the tumultuous credit markets. The standard requires companies to maximize the use of observable market prices and inputs, and minimize the use of unobservable inputs in their valuations.

The standard also presents challenges for non-financial assets and liabilities—most notably in the context of business combinations when companies have to fair value the assets and liabilities they acquire. “The most prevalent areas that would be affected by a partial deferral would be in regard to business combinations and impairments of acquired assets,” said FASB practice fellow Brian Stevens last week.

Some observers questioned the decision. “It’s a little puzzling that [FASB] did so at all in that companies will still have to apply 157 to problem financial assets, which is a good thing, whereas the non-financial assets get the deferral,” said Jack Ciesielski, an analyst and principal in the firm of R.G. Associates.

Given that FASB intends to change the rules on accounting for business combinations, the board appears to have decided that the new valuation rules should wait until those changes are implemented.



http://calculatedrisk.blogspot.com/2007/11/cnbc-fasb-157-delayed-one-year.html


Wednesday, November 14, 2007
CNBC: partial FASB 157 Delayed One Year

Update from LaSalle Street in the comments:

I e-mailed the FASB today about the implementation of Rule 157. (There was a news story on CNBC about delaying Rule 157)Here is their reply:

On Oct 17, the FASB agreed not to defer the effective date of FASB Statement 157, Fair Value Measurement, in its entirety. At today's meeting, the staff reviewed various deferral alternatives. The Board voted on Alternative"B" - to defer the effective date of Statement 157 for one year for all nonfinancial assets and nonfinancial liabilities, except for those items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually).

More information about Alternative"B" is available in the Board meeting handouts, a link to which is provided at www.fasb.org. More details about what was decided today will also be posted shortly on www.fasb.org.

Communications Manager
Financial Accounting Foundation

I did not see this report, but several people have confirmed seeing it on CNBC (hat tip Tim, gamma and others). Perhaps a portion of FASB 157 has been delayed, so we need to wait for more news.

FASB 157 was scheduled for implementation tomorrow.

Just one month ago, the WSJ reported: FASB Won't Delay Market-Value Rule

Accounting rule makers decided against deferring a new rule that lays out for companies how to apply market values to financial instruments, as well as some nonfinancial assets, and that mandates disclosures breaking down differences in easy-to-value versus hard-to-price securities.

But a divided Financial Accounting Standards Board left the door open to deferring the rule as it applied to nonfinancial assets on corporate balance sheets, or perhaps to private companies who follow generally accepted accounting principles. Groups such as Financial Executives International, an industry group, had lobbied the board to defer in its entirety the rule, known as FAS 157, for a year.

The seven-member FASB rejected such a proposal by a four-to-three vote.

FAS 157 takes effect for companies with fiscal years beginning after Nov. 15, 2007. This means that most companies will have to begin using the standard from the start of next year. However, many large investment houses and banks chose to adopt the standard early and its disclosures have proven crucial during the recent unrest in debt markets.

Perhaps this is a delay for nonfinancial assets on corporate balance sheets.

Thread gesperrt

 

gesamter Thread:

• Jetzt haben wir den Grund für die financial rally: FASB 157 partially delayed mT - DT, 14.11.2007, 23:41
  • Hier weitere Details (mTuL) - DT, 14.11.2007, 23:54
  • Denn mal morgen lustig Calls kaufen...Alles wird gut... - XERXES, 15.11.2007, 00:10
  • Re: Jetzt haben wir den Grund für die financial rally: FASB 157 partially delayed mT - SUCRAM, 15.11.2007, 10:50
    • Re: Jetzt haben wir den Grund für die financial rally: FASB 157 partially delayed mT - dottore, 15.11.2007, 11:51
      • Re: Jetzt haben wir den Grund für die financial rally: FASB 157 partially delayed mT - SUCRAM, 15.11.2007, 13:48
        • Re: Jetzt aber....Korrektur [[wut]] - SUCRAM, 15.11.2007, 15:20
      • Re: Jetzt haben wir den Grund für die financial rally: FASB 157 partially delaye - weissgarnix, 15.11.2007, 22:26
        • Re: @weissgarnix - SUCRAM, 16.11.2007, 09:22
          • Re: @Sucram - weissgarnix, 16.11.2007, 10:09