FASB’s revised accounting standards for M&A deals, known as Statement of Financial Accounting Standards No. 141R, Business Combinations (FAS 141R), became effective on December 15. Companies reporting pursuant to GAAP must follow the revised standards for M&A deals closing after the start of their first annual reporting period after that date (for companies whose fiscal year is the calendar year, that means the revised standards will apply to deals closing on or after January 1, 2009).

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