RBCL » Topics » New Accounting Pronouncement

This excerpt taken from the RBCL 10-Q filed Nov 14, 2005.

New Accounting Pronouncement

 

In December 2004, the Financial Accounting Standards Board (“FASB”) issued Statement of Financial Accounting Standards No. 123—revised 2004 (“SFAS 123R”), Share-Based Payment, which replaces SFAS 123, and supersedes Accounting Principles Board (“APB”) Opinion No. 25, Accounting for Stock Issued to Employees. SFAS 123R requires the measurement of all share-based payments to employees, including grants of employee stock options, using a fair-value-based method and the recording of such expense in the consolidated statement of operations.

 

The accounting provisions of SFAS 123R are effective for fiscal years beginning after June 15, 2005. Accordingly, the Company is required to adopt SFAS 123R in the first quarter of 2006. Although the Company has not completed its evaluation of the impact of adopting this statement, it expects adoption to affect its statement of operations, but have no effect on its financial condition or cash flows.

 

This excerpt taken from the RBCL 10-Q filed Aug 12, 2005.

New Accounting Pronouncement

 

In December 2004, the Financial Accounting Standards Board (“FASB”) issued Statement of Financial Accounting Standards No. 123—revised 2004 (“SFAS 123R”), Share-Based Payment, which replaces SFAS 123, and supersedes Accounting Principles Board (“APB”) Opinion No. 25, Accounting for Stock Issued to Employees. SFAS 123R requires the measurement of all share-based payments to employees, including grants of employee stock options, using a fair-value-based method and the recording of such expense in the consolidated statement of operations.

 

The accounting provisions of SFAS 123R are effective for fiscal years beginning after June 15, 2005. Accordingly, the Company is required to adopt SFAS 123R in the first quarter of 2006. Although the Company has not completed its evaluation of the impact of adopting this statement, it expects adoption to affect its statement of operations, but have no affect on its financial condition or cash flows.

 

This excerpt taken from the RBCL 10-Q filed May 13, 2005.

New Accounting Pronouncement

 

In December 2004, the Financial Accounting Standards Board (“FASB”) issued Statement of Financial Accounting Standards No. 123—revised 2004 (“SFAS 123R”), Share-Based Payment, which replaces SFAS 123, and supersedes Accounting Principles Board (“APB”) Opinion No. 25, Accounting for Stock Issued to Employees. SFAS 123R requires the measurement of all share-based payments to employees, including grants of employee stock options, using a fair-value-based method and the recording of such expense in the consolidated statement of operations.

 

The accounting provisions of SFAS 123R are effective for fiscal years beginning after June 15, 2005. Accordingly, the Company is required to adopt SFAS 123R in the first quarter of 2006. Although the Company has not completed its evaluation of the impact of adopting this statement, it expects adoption to affect its statement of operations, but have no affect on its financial condition or cash flows.

 

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