Printer Friendly

Committee on Private Companies (CPC): staff liaison: Serena Davila.

The Private Companies Standards Subcommittee was planning to meet with the FASB on March 29 to present private company perspectives to the board. The subcommittee recently conducted a survey of all private company members in order to better represent its interests at this meeting. The subcommittee plans to discuss the fundamental financial reporting needs of private companies, as well as their general characteristics and the various different types of private companies.

* The Standards Subcommittee is reviewing the IASB's Exposure Draft on an International Financial Reporting Standards for Small and Medium-sized Entities (IFRS for SMEs). It plans to compose a comment letter on the issue. Comment letters are due Oct. 1.

* The Policy Subcommittee will have its next Washington, D.C. "fly-in" visit to Capitol Hill on April 23-25. The issues the subcommittee plans to raise with legislators include S Corp reform and the IC-DISC issue.

The main issue for Sub Chapter S reform is the interest charge-domestic international sales corporate (IC-DISC) issue. The IC-DISC was created in 1984 to allow the deferral of tax on IC-DISC income. If enacted, Section 7 of H.R. 6264 and S. 4026, the Tax Technical Corrections Act of 2006, would significantly increase taxes on small and closely held U.S. manufacturing exports.

A third issue the policy subcommittee plans to discuss with legislators and their staffs is healthcare cost containment and, more specifically, small business health plans.
COPYRIGHT 2007 Financial Executives International
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:FEI TECHNICAL COMMITTEES
Publication:Financial Executive
Date:Apr 1, 2007
Words:233
Previous Article:Committee on Government Business (CGB): staff liaison: Mark Prysock.
Next Article:Committee on Taxation (COT): staff liaison: Mark Prysock.


Related Articles
PEOPLE.
Government relations/advocacy, technical committees.
Technical committee profile: CPC.
FEI's Washington, D.C., office has added two new staffers, Robert Lewis and Serena Davila.
Fei national: about FEI's technical committees.
Private company forum, Chicago.
About FEI's technical committees.
CCR, CFIT, CGB, COT and CPC updates.
Committee on Benefits Finance (CBF): staff liaison: Serena Davila.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters