The Financial Accounting Standards Board by its own accounts had a very productive 2008, and it looks like its output will be even higher in 2009.Though much of 2008 was dedicated to issuing discussion papers that may eventually lead to standards and documents in 2009, the past year saw new standards on accounting for financial guarantee insurance contracts, the hierarchy of generally accepted accounting principles, and disclosures about derivative instruments and hedging activities.

The Financial Accounting Standards Board has released a staff position officially deferring the effective date of FASB Interpretation 48, "Accounting for Uncertainty in Income Taxes," for nonpublic pass-through entities and nonprofit organizations, and released guidance on accounting for the assets in postretirement plans.

Susan G. Markel, chief accountant of the Securities and Exchange Commission's Division of Enforcement, is stepping down after 14 years at the agency.

The Center for Audit Quality has released a paper to provide guidance on applying accounting standards to residential mortgage modifications.

The International Accounting Standards Board and the Financial Accounting Standards Board have attracted a set of high-profile members from around the world to form an advisory group on the financial crisis.

Once again it’s the time of year for me to make resolutions that I probably won’t keep for five minutes.

The Securities and Exchange Commission has released its eagerly anticipated report on mark-to-market accounting calling for improvements in fair value accounting standards, but not suspension of them.