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This excerpt taken from the C 8-K filed Oct 13, 2009. Equity Method Investment Accounting Considerations
In November 2008, the FASB ratified the consensus reached by the EITF on Issue 08-6, “Equity Method Investment Accounting Considerations” (Issue 08-6). Under Issue 08-6, an entity shall measure its equity method investment initially at cost in accordance with SFAS 141(R). Any other-than-temporary impairment of an equity method investment should be recognized in accordance with Opinion 18. An equity method investor shall not separately test an investee’s underlying assets for impairment. Share issuance by an investee shall be accounted for as if the equity method investor had sold a proportionate share of its investment, with gain or loss recognized in earnings.
Issue 08-6 is effective for Citigroup on January 1, 2009, and is not expected to have a material impact.
This excerpt taken from the C 10-Q filed Aug 7, 2009. Equity Method Investment Accounting Considerations EITF Issue 08-6, "Equity Method Investment Accounting Considerations" (ASC 323-10). These excerpts taken from the C 10-K filed Feb 27, 2009. Equity Method Investment Accounting Considerations In November 2008, the FASB ratified the consensus reached by the EITF on Issue 08-6, “Equity Method Investment Accounting Considerations” (Issue 08-6). Under Issue 08-6, an entity shall measure its equity method investment initially at cost in accordance with SFAS 141(R). Any other-than-temporary impairment of an equity method investment should be recognized in accordance with Opinion 18. An equity method investor shall not separately test an investee’s underlying assets for impairment. Share issuance by an investee shall be accounted for as if the equity method investor had sold a proportionate share of its investment, with gain or loss recognized in earnings. Issue 08-6 is effective for Citigroup on January 1, 2009, and is not expected to have a material impact. Equity Method Investment Accounting Considerations In November 2008, the FASB ratified the consensus reached by the EITF on Issue 08-6, “Equity Method Investment Accounting Considerations” (Issue 08-6). Under Issue 08-6, an entity shall measure its equity method investment initially at cost in accordance with SFAS 141(R). Any other-than-temporary impairment of an equity method investment should be recognized in accordance with Opinion 18. An equity method investor shall not separately test an investee’s underlying assets for impairment. Share issuance by an investee shall be accounted for as if the equity method investor had sold a proportionate share of its investment, with gain or loss recognized in earnings. Issue 08-6 is effective for Citigroup on January 1, 2009, and is not expected to have a material impact. | EXCERPTS ON THIS PAGE:
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