SEC Staff Workpaper 11-16-11 Workplan for Considering IFRS in the Financial Reporting System for US Issuers and SEC Charges MSIM for Improper Fee Arrangement

Some points of interest Today from the SEC:

1. Staff Paper: Work Plan for the Consideration of Incorporating International Financial Reporting Standards into the Financial Reporting System for U.S. Issuers (see document below).

2. SEC Charges Morgan Stanley Investment Management for Improper Fee Arrangement

http://www.sec.gov/news/press/2011/2011-244.htm



Ifrs Work Plan Paper 111611 Gaap

SEC Staff Accounting Bulletin: Codification of Staff Accounting Bulletins

SEC Staff Accounting Bulletins provide additional Guidelines on how the SEC Interprets SEC Rules from the Accounting Perspective. These staff Accounting Bulletins have been organized into a Codification Format to better match FASB ASCs.

At 3/7/11 of this year SEC issued a new SAB 114 to conform the SAB Codification to more closely conform to FASB ASCs where able to do so. You can read SAB 114 below and follow links from Our Look at SEC SAB Codifications to see places where additional information insight beyong FASB ASCs and SEC Regulations may be helpful in communicating Accounting Results to the SEC.

These are non-authoritative guidelines, explanatory notes that can be used for additional consideration in providing FASB ASC based financials and seeking to meet the requirements of SEC Regulations on reporting.
Read on to learn more:

SEC SAB 114 - Conforming to FASBs

SAB 114 now being covered above - let's move forward to the SAB Codification.

Note: Staff Accounting Bulletins reflect the Commission staff's views regarding accounting-related disclosure practices. They represent interpretations and policies followed by the Division of Corporation Finance and the Office of the Chief Accountant in administering the disclosure requirements of the federal securities laws.


SEC Staff Accounting Bulletin: Codification of Staff Accounting Bulletins

TABLE OF CONTENTS
Topic 1:	Financial Statements
Topic 2:	Business Combinations
Topic 3:	Senior Securities
Topic 4:	Equity Accounts
Topic 5:	Miscellaneous Accounting
Topic 6:	Interpretations of Accounting Series Releases and Financial Reporting Releases
Topic 7:	Real Estate Companies
Topic 8:	Retail Companies
Topic 9:	Finance Companies
Topic 10:	Utility Companies
Topic 11:	Miscellaneous Disclosure
Topic 12:	Oil and Gas Producing Activities
Topic 13:	Revenue Recognition
Topic 14:	Share-Based Payment

Information is valid as of 3/18/11 per SEC website - for best results check in with the SEC for updates. You must confirm ALL SEC Rules and Regulations for current validity as relying or filing. As noted these are guidance points that are not Regulations but rather are an SEC reference view on applying certain Accounting practices under SEC Rules for purposes of SEC facing reporting.

http://www.sec.gov/interps/account/sabcode.htm


DCarsonCPA.com we work with Accounting, Taxes, Advisory, Operations, Analysis, Compliance and more. Connecting the line of Government, Industry, Business, Non Profit and Individual Financial Decision Making for Leaders. Learn more at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .

FAF - FASB & GASB The Framework of Accounting for Corporations and State and Local Financials.

FAF is the Financial Accounting Foundation, while their website appears to be temporarily out of commission at the time of this write up. We will return in the future to update this link.

FAF is the oversight body for FASB & GASB:

FASB is the Financial Accounting Standards Board most responsible for Public Company Accounting Standards that we call US GAAP (United States Generally Accepted Accounting Principles). You can find FASB at http://www.fasb.org/home

GASB is a closely related but less accessible set of Standards referred to as Governmental Accounting Standards Board. GASB is less accssible due to a lesser degree of Funding and we encourage you to contribute to GASB Funding to better facilitate online access to refrence sources that are key to understanding State and Local Financials. GASB is NOT the standard setter for Our National Government, the US National GAAP for Government Standards are promulgated by the FASAB which we will cover at some later point.

GASB - Governmental Accounting Standards Board can be found at http://gasb.org/

Whether considering FASB or GASB, you are dealing with the Authoritative Rule sets for Accounting and Reporting in related Financial statements.   This is only an introduction so check back with us soon for more as we expand on our coverage of ALL Manners of Accounting, Reporting, Analysis, Compliance and Technologies that pertain to our Industry in the Aggregate.

We are DCarsonCPA.com the web presence of Dean T. Carson II, CPA your Solution Set for Business, Non Profit and Individual Accounting, Taxation, Compliance, Advisory and more. We focus Our skills on connecting the Line of Government, Industry, Business, Non Profit and Financial Decision Making - it all matters and it all roles into your Family Finances at the end of the day, for better or worse. Learn more at www.dcarsoncpa.com or e-mail us at info@dcarsoncpa.com