EITF


Also found in: Financial.
AcronymDefinition
EITFEmerging Issues Task Force
EITFEstonian Information Technology Foundation
EITFEdinburgh International Television Festival
EITFEquity Index Tracker Fund (UK)
EITFEndophyte-Infected Tall Fescue (alkaloid toxins research)
EITFEurope International Taekwon-Do Federation
References in periodicals archive ?
But after considering comments it received in response to an October 2010 exposure draft (ED) that reflected the EITF's consensus-for-exposure on Issue No.
In addition, because EITF consensuses are already in category (c), the FASB concluded that FASB staff announcements contained in EITF-D Topics should have the same authority as EITF consensuses and, therefore, are now part of category (c) GAAP.
Written comments will be considered by the EITF at the June 14-15 EITF meeting.
Dilemma: The IRS's current position on this issue is that taxpayers must report cooperative advertising reimbursements as an item of income (or, possibly, a reduction of advertising expenses), thus creating a book-tax reporting difference, because taxpayers have to comply with EITF Issue No.
In its consensus, the EITF addressed certain fundamental recognition and measurement problems accountants face when dealing with environmental losses.
The EITF concluded that generally remediation costs should be an item of expense.
At first EITF considered stipulating an equity level test.
The EITF was formed by the Financial Accounting Standards Board (FASB) in 1984 to "promulgate implementation guidance within the framework of existing authoritative literature to reduce diversity in practice on a timely basis." As the FASB's primary interpretative body, the EITF follows a due process in identifying, discussing, and resolving issues that arise from the interpretation and application of existing U.S.
However, the lower levels, such as EITF results from level C, cannot be ignored.
The requirements of EITF 00-19 indicate that the balance sheet classification of the warrants in this instance should be classified as liability as opposed to equity, and should be measured at fair value.