<p>In this Issue:<br/>IFRS Matters<br/>•<br/>FASB and IASB Issue Discussion Paper on Revenue Recognition<br/>•<br/>IFRIC Issues Guidance on Distribution of Non-Cash Assets to Owners<br/>•<br/>IASB Issues Revised Standard on First-Time Adoption<br/>•<br/>Tips on Applying IFRS<br/>•<br/>IFRS Tools<br/>U.S GAAP Matters<br/>•<br/>FASB Issues FSP FIN 48-3<br/>•<br/>FASB Issues FSP FAS 132(R)-1, Employers’ Disclosures about Postretirement Benefit Plan Assets<br/>•<br/>FASB Proposes Guidance to Improve Financial Instrument Disclosures<br/>•<br/>FASB Issues Guidance on Other-than-temporary Impairments<br/>•<br/>FASB Proposes to Amend Statement 141(R)’s Guidance on Contingencies<br/>•<br/>FASB Issues FSP on Enhanced Disclosures for Certain Financial Assets and Variable Interest Entities<br/>•<br/>EITF Meeting Highlights<br/>•<br/>Deloitte Issues Guidance on Impact of Statement 141(R) on Income Tax Accounting<br/>•<br/>SEC Issues Compliance and Disclosure Interpretations<br/>•<br/>Deloitte Issues Guidance on Impact of Current Market Environment on Employee Benefits<br/>•<br/>Deloitte Issues Guidance Certain on Equity-Linked Financial Instruments<br/>•<br/>SEC Issues New Financial Reporting Manual<br/>•<br/>SEC Issues Report on Mark-to-Market Accounting<br/>Regulatory Matters<br/>•<br/>The 2008 AICPA National Conference on Current SEC and PCAOB Developments<br/>•<br/>SEC Issues Final Rules to Require Registrants to Furnish Interactive Data with Certain SEC Filings<br/>•<br/>Highlights of the July 2008 Meeting of the SEC Regulations Committee<br/>•<br/>Other SEC Publications and Releases</p><br/>