Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
FASBs proposed exposure draft topic of new audio conference
MADISON, Wis. (7/8/10)--The Credit Union National Association (CUNA) will host a live audio conference July 28 from 2 p.m. to 3 p.m. CT about the Financial Accounting Standards Board’s (FASB) proposed exposure draft. The proposed requirements would cause most credit unions to incur significant costs in order to comply with the new rules, which would change how financial institutions--including credit unions--account for the financial instruments they hold, said CUNA. The effective date of the proposed changes described in the exposure draft is likely a few years away, but “if your credit union waits until the final rule is adopted it will be much too late to express any concerns to the accounting standard-setter and you will have no other option but to find a way to comply with the new requirements,” CUNA said. During the audio conference, credit unions will:
* Gain a thorough background of information on what exactly the exposure draft would require; * Discuss the impact the proposed changes will have on credit unions; * Learn what credit unions can do to weigh in on and ultimately prepare for the proposed changes; and * Review a proposed timeline of important events.
For more information, use the link.


RSS print
News Now LiveWire
Thanks for following our tweets on the NCUA's #listeningsession.
8 hours ago
RT @IllinoisLeague: Mike Daugherty, CEO, Community Plus FCU: I'd like to you to reconsider your repeated 'No's' #listeningsession #fixRBC h…
10 hours ago
CU says definition of complex CU needs to be reviewed, and not just based on asset size. NCUA: We are looking at that. #listeningsession
10 hours ago
NCUA says lots of resources go 2 examiner training,but there's much turnover.Invites ideas on how to improve exam training.#listeningsession
10 hours ago
CU tells NCUA that more benefit could be gained by better examiner training than imposing this "unnecessary" RBC system at #listeningsession
10 hours ago