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Enron Mail |
Dear Working Group Participant
We are stating up the GARP FAS 133 Working Group Meetings again. The next meeting is on Wednesday September 20 from 6:30- 8:30 Central Time in Houston. Phone-In will be provided. GREETINGS FROM GARP! WE ARE HAVING THE NEXT MEETING SEPTEMBER 20th AT ENRON, FROM 6:30PM UNTIL 8:30PM. Due to security we NEED EVERYONE TO RSVP, including the names of any guest they may be bringing. Please RSVP to rita.hennessy@enron.com. The meeting will cover SFAS 133 and related Risk Management Issues. Sajjad RIzvi and Phillip Merrill (GARP Chairman relating to SFAS 133) will be presenting. Attendence is anticipated to include risk control/accounting/and quantitative analyst. Below is the following agenda: "FAS133 and Beyond; An update on SFAS 138 and EITF 98-10" Overview of ?4 major amendments to SFAS 133, that were made in 138, Accounting for Certain Derivative Instruments and Certain Hedging Activities Impact of the expanded definition of Normal Purchase Normal Sales on the Commodity transactions. Update on all the recently finalized Implementation issues from DIG since the last GARP meeting in May/June 2000. Discussion on ?EITF 98-10 Issues on Energy related contracts. ??? EITF 00-T- Capacity?contract subject to?Lease Accounting treatment under SFAS 13. ??? EITF 96-17- Power Contracts-Long term ??? EITF 91-6-? Power Contracts-Long term Outline GARP's role and Methodology in dealing with the FASB regarding Energy related Issues Overview of FASB and DIG rule making process and how GARP can make impact Discussion to find Common ground on issues relating to this new accounting rule Outstanding issues in the energy industry, including Capacity Sales transactions, Book-Outs etc. Prioritizing issues Explore various positions and how to take next steps The issues presented by SFAS 133 are very dynamic and the presenters have requested that if you would like a particular issue raised at this meeting, please direct your interests and questions to Sajjad Rizvi at lima@flash.net, or call Sajjad at 281-579-3410 Again, I would like to extend a thank you to our presenters and I look forward to your attendence. Regards, Frank Hayden Director - GARP Houston Chapter
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