FASB asks for comments on stock-based compensation, issues guidance on disclosure requirements. (accounting & auditing news).

The Financial Accounting Standards Board has issued an Invitation to Comment, Accounting for Stock-Based Compensation: A Comparison of FASB Statement No. 123, Accounting for Stock-Based Compensation, and Its Related Interpretations, and IASB Proposed IFRS, Share-Based Payment. Comments are due Feb. 1 (obtain a copy from www.fasb.org). The invitation to comment explains the similarities of and differences between the proposed guidance on accounting for stock-based compensation included in the International Accounting Standards Board's recently issued exposure draft and the accounting for stock-based compensation under FASB Statement 123.

In addition, the FASB has published Interpretation No. 45, Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others, to provide better and more transparent disclosure requirements for issuers of guarantees. The interpretation expands on the accounting guidance of Statement Nos. 5, 57 and 107 and incorporates without change the provisions of FASB Interpretation No. 34, which is being superseded. Order a copy through www.fasb.org.