HOT Topics at FASB

Kimber Bascom, and Mark LaMonte, and Lara Long, and Hillary Salo

About the PanelistsThe second day of the conference continued with a panel on major FASB standards, proposals, projects, and Emerging Issues Task Force (EITF) matters. The panel was moderated by Kimber Bascom, partner in charge of the accounting group of the department of professional practice at KPMG. Mark LaMonte, managing director, WilliamsMarston LLC; Lara Long, vice president and chief accounting office, AGCO Corp., and member of FASAC; and Hillary Salo, FASB technical director and chair of the EITF, participated on the panel. The following is an edited summary of that panel discussion. The comments made by the panelists represent their own thoughts and views, and are not necessarily representative of their employers or affiliated institutions. Official positions of FASB are reached only after extensive due process and deliberation.