The Financial Accounting Standards Board is heading into a year in which the ball of due process will spend a lot of time in the court of the board's constituents.Between New Year's Day and early spring, the board may have as many as 11 documents issued for public comment, with a couple more out by summer. Three final documents may be issued in the first quarter, but they're the only pronouncements expected before 2009.

Comments on the exposure documents will have to bear in mind the recent Securities and Exchange Commission decision to allow foreign companies to use un-reconciled International Financial Reporting Standards when registering for American securities markets.

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