A Look Back

About this Session

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This panel discussed important moments in FASB history, including technical
and political debates over significant standards, development of the FASB Conceptual Framework, creation of the Emerging Issues Task Force, international activities and the convergence effort, and the FASB Accounting Standards Codification®.

Key Topics:
  • Derecognition – or when to take items off the balance sheet
  • Sarbanes-Oxley legislation
  • Expensing stock options
  • Congress and the controversy surrounding accounting for derivatives.
  • Political pressures


Donald J. Kirk
FASB Chair 1978-1986

Dennis R. Beresford
FASB Chair 1987-1997

Edmund L. Jenkins
FASB Chair 1997-2002

Robert H. Herz
FASB Chair 2002-2010

Leslie F. Seidman
FASB Chair 2010-2013


James J. Leisenring
FASB Senior Advisor