Accounting Policy and Practice Report Index-Summary

BACKDATING STOCK OPTIONS

BAILOUTS

BALANCE SHEETS

– Off-balance sheet transactions

BANKING

– Accounting standards impact on banks, Fed governor questions FASB and IASB paths, raises concerns about relevance and reliability, 836; IASCF submits progress report on financial instruments for G-20 meeting, 839
– Administration proposed financial system overhaul detailed in white paper, 570 et seq.; convergence goals discussed, 634; effect on securities law discussed, 659 et seq.; draft reforms bills submitted to Congress, no floor action expected before Sept., 682
– Bank of America/Merrill merger

– – BoA shareholder pre-merger disclosures about bonuses to Merrill Lynch executives under investigation by SEC and N.Y., 367; settlement reached with SEC, N.Y. investigation continues (S.D.N.Y.), 737; pending settlement signals growing investor influence on executive compensation, attorneys say, 785; settlement rejected for second time citing lack of charges against individuals (S.D.N.Y.), 818; court rejects proposed settlement, 857; analysis of court rejection, 886; BoA agrees to waive attorney-client privilege, disclose proxy information to N.Y. attorney-general and regulators, 954; SEC's amended complaint repeats allegations, adds one claim (S.D.N.Y.), 1000
– – Federal officials threatened to remove BoA board if merger deal halted, N.Y. attorney general tells Congress, 411

– Basel Comm. issues new fair value guidelines for financial instruments, 361; improvements offered, 812
– BDO Intl. not liable as agent for U.S. member firm's loan-fraud scheme (Fla. Cir. Ct.), 588
– Capital requirement concerns raised in response to FASB asset consolidation changes, 997
– Debt securities, divided FASB clears final staff guidance, critics say banks can avoid recording losses in 4th quarter, 22
– Disclosure of troubled securities positions, analysts tell FASB more needed, 310
– Dynamic provisioning under study by Financial Crisis Advisory Group, 111; panel members differ on treatment for bank reserves, 170; IASB advisory council debates tension between financial stability and dynamic provisioning, 218; analysts warn of dangers, 220; loan loss accounting methods compared, 305; Grant Thornton suggests bank regulators make changes rather than change accounting rules, 448
– Fair value

– – FASB definition criticized by banking groups, other-than-temporary impairment accounting also criticized, 503
– – SEC study on impact on bank failures, staff recommends improvements but said no role found, 17

– Financial Crisis Advisory Group co-chair tells conference that bank regulators, not IFRS responsible for crisis, 635
– Financial instruments, fair value accounting

See FAIR VALUE

– Financial system reform

See FINANCIAL SYSTEM REFORM

– Fraud

See FRAUD

– Holding company oversight, administration proposal detailed in white paper, 570 et seq.
– IndyMac, Treasury IG investigating why OTS approved backdating of capital infusion, 53
– Loss impairments

See IMPAIRMENTS

– Mortgage securitizations

See MORTGAGE SECURITIZATIONS; SUBPRIME MORTGAGES

– Off-balance sheet transactions, bank regulators collaborating with FASB on guidance, 494
– Restructuring of troubled loans

See SUBPRIME MORTGAGES

– SEC sends letter to banks urging reevaluation of MD&A disclosures and loan loss accounting, 768; letter clarified, 840
– Stanford, inspector general clears SEC probe of alleged certificate of deposit fraud and Ponzi scheme, history of investigation detailed, 740
– Troubled Asset Relief Program (TARP)

See ECONOMIC STIMULUS

BANKRUPTCY

– Akai Holdings, E&Y settles negligence suit in Hong Kong bankruptcy case, suspends partner, 914
– BearingPoint, sale of financial services segment to PricewaterhouseCoopers approved by bankruptcy court, 552
– Financial system reform

See FINANCIAL SYSTEM REFORM

– Foreclosures

See generally SUBPRIME MORTGAGES

– Government bankruptcy process guidance proposal, GASB seeks comments, 630
– Madoff Ponzi scheme, proceedings against Madoff firm continue, 642
– New Century

– – Bankruptcy trustees sue KPMG over bad audits, KPMG disputes allegations (Cal. Super.Ct., S.D.N.Y), 321
– – KPMG faulted for role in collapse of mortgage company, investor class action allowed to continue (C.D. Cal.), 50

– Research firm puts SEC on notice of “frivolous” defamation suit by car rental firm over prediction of bankruptcy, 951
– Sentinel Mgmt. Group, bankrupt asset management firm's accountants charged with fraud (Ill. Cir. Ct.), 774

BENEFIT PLANS

See PENSIONS

BONDS

– Municipal bonds

See MUNICIPAL BONDS

BONUSES

See generally EXECUTIVE COMPENSATION

BREACH OF CONTRACT

See NEGLIGENCE

BROKER-DEALERS

– Auditors of nonpublic broker-dealers must register with PCAOB, PCAOB and SEC guidance issued, 223; SEC increasing focus on, 451
– Codification corrections, ASU issued by FASB to correct and conform SEC guidance, 892
– Collateralized mortgage obligations (CMOs), FINRA and SEC file fraud charges (S.D. Fla.), 550
– Inspection program being revised by SEC in light of Madoff scandal to improve inspection, 587
– Leverage ratios, supervision of broker-dealers including oversight of ratios defended by SEC official, 356
– Voting of customers' shares, SEC votes to eliminate, 622

BUDGET, U.S.

– House appropriations panel increases SEC funding, approves independent funding for IG's office, 624
– SEC budget

See also LEGISLATION, FEDERAL, HR 3170, S 1432
– – Proposal for 2010 seeks increase of 7 percent, largely for enforcement, 435

BUSINESS COMBINATIONS

See also CONSOLIDATIONS
– Bank of America/Merrill merger

– BNA adds new portfolios to series, 457
– Contingencies, assets acquired and liabilities assumed, fair value recognition requirement amended in proposed FASB guidance, 30; IASB issues similar guidance, 34; FASB-sponsored investors' group says guidance flawed, 88; plug pulled by IASB on project in light of opposition, 125; FASB steps back from fair value in FSP on acquired contingency accounting, 207; FASB roundtable members seek middle ground for contingencies disclosures, 263; FASB publishes final staff guidance, 300; FASB considers delaying effective date, 771
– FAS 141(R) significantly changes accounting and reporting rules, analysis, 705 et seq.
– Huron Consulting Group discloses SEC probe related to acquisitions, also facing class actions over false and misleading financial statements, 781
– IASB agrees to work on 3 amendments to business combination literature, 492
– Nonprofit organizations

See NONPROFIT ORGANIZATIONS

– Research and development projects acquired in business combinations, FASB capitalization project dropped, added to EITF agenda, 82
– SEC guidance updated to match FASB guidance, 523
– Technical corrections to rules and forms issued by SEC to align with FASB standards on business combinations and consolidated statements, 396