Emerging Issues Task Force (EITF)

A committee of the Financial Accounting Standards Board (FASB) charged with responsibility to provide timely guidance on emerging accounting issues. The task force includes accountants and financial industry representatives as well as the chief accountant of the Securities and Exchange Commission. EITF is a mechanism whereby FASB can provide accounting guidance on issues of small and intermediate significance without release of a formal financial accounting standard.

Glossary * E