The FASB plans to discuss its projects on lease accounting and financial instruments with characteristics of equity at its November 19, 2008, weekly meeting in Norwalk, CT.

The Board will review the initial and subsequent measurement of a lease obligation and right-of-use asset and the presentation of a lease in financial statements. The Board also will discuss the accounting for subleases.

The Board will also continue to develop an approach to identify equity instruments, as part of its project on financial instruments with characteristics of equity, for which it released Preliminary Views (PV) No. 1550-100, Financial Instruments with Characteristics of Equity. Finally, the Board will discuss whether perpetual basic ownership instruments, other perpetual instruments, and derivatives on an issuer?s basic ownership instruments should be classified as equity.