EITF 08-4, Transition Guidance for Conforming Changes to EITF Issues No. 98-5, “Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios”.

EITF 08-4 was ratified by the Board in June of 2008 and was issued to provide transition guidance for conforming changes made to EITF 98-5 that resulted from EITF 00-27 and FAS 150.

Proposed FSP on Discontinued Operations

A proposed staff position would require an entity to report fewer activities as discontinued operations.

FSP FAS 133-1 and FIN 45-4 “Disclosures about Credit Derivatives and Certain Guarantees: An Amendment of FASB Statement No. 133 and FASB Interpretations No. 45; and Clarification of the effective date of FASB Statement No. 161”

This new FSP is effective for financial periods ending after November 15, 2008.  This would be for the 2008 10K for calendar year companies.
The FSP clarifies that FAS 161 is effective for any reporting period, annual or interim, beginning after November 15, 2008.  There was some controversy over whether FAS 161 was to be applied [...]

Recent Happenings

I know it has been a long time since the last update, but here are the highlights.
FASB ratified three EITF consensuses at its November 24th meeting.     
EITF 08-6 – “Equity Method Investment Accounting Considerations
EITF 08-7 – “Accounting for Defensive Intangible Assets
EITF 08-8 – “Accounting for an Instrument (or Embedded Feature) with a Settlement Amount [...]