1 / 5

Technical Committee Report

Technical Committee Report . Three issues: Accounting for hedging transactions Update of Section IV Pending Changes to the Financial and Management Accounting Guidelines. To the Update the Guidelines….

sonora
Download Presentation

Technical Committee Report

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Technical Committee Report • Three issues: • Accounting for hedging transactions • Update of Section IV • Pending Changes to the Financial and Management Accounting Guidelines

  2. To the Update the Guidelines… • Insert text into section II after “Treatment of Inventory Items (Other Than Breeding Stock) and before “Treatment of Raised Breeding Stock.” • Update Glossary with list of new terms used in this section or related to hedging transactions • Add Appendix I: Example of Accounting for Hedging Transactions

  3. Recommended Next Steps • August 31, 2013 deadline to receive comments, edits • September 30, 2013 Finalize edits and send to Executive Committee for approval • October 31, 2013 Edit Guidelines to add Hedging Transactions and send to Executive Committee for approval • November 30, 2013 Publish updated version of Guidelines

  4. Timeline for changes to Section IV • Fall – 2013 Incorporate changes from Technical committee meeting on Tuesday • Winter – 2014 Technical committee review and refine and approve changes • Spring – 2014 Send updated Section IV to the FFSC Executive committee for approval • June – 2014 Distribute updated Section IV to the entire FFSC board of Directors • Summer – 2014 Motion for approval of updated Section IV at the annual meeting • January – 2015 Publish updated version of FFSC financial guidelines

  5. Pending Changes • Dick Wittman’s comments from 3-29-11 • Alan Miller’s comments from April 2011 • Tom Murphy’s suggest updates from July 2011 annual meeting Address these issues along the same timeline as the changes to Section IV

More Related