The Ernst & Young 2009 mid-year accounting and reporting update

Co-sponsored by Financial Executives International

Fair value accounting continues to be an area of focus by standard setters, regulators and their market constituents. In the last few months, there have been several standards finalized and proposed that concentrate on fair value measurement and disclosures. This webcast will highlight the new requirements and what they could mean to preparers and the market.

The market environment also has expedited the issuance of new guidance related to other-than-temporary impairment. The new rules change existing accounting requirements for measuring other-than-temporary impairment of debt securities classified as held-to-maturity or available-for-sale. Our webcast panelists will explore the ramifications of the new rules, transition and possible adoption challenges. In addition, we will discuss the ongoing Financial Instruments project.

There are numerous other projects and proposals in varying stages that would significantly impact financial accounting and reporting as we know it today. We will discuss some of the potential changes in areas such as the FASB Accounting Standards Codification ^TM, financial statement presentation, revenue recognition and discontinued operations.

Our panelists will also discuss the SEC's agenda and current status of its rulemaking projects, including International Financial Reporting Standards (IFRS) and Interactive Data (XBRL).

Join Ernst & Young LLP on 9 July 2009 for a live Thought Center Webcast, cosponsored by Financial Executives International (www.financialexecutives.org).