GNC 2010 Annual Report Download - page 91

Table of Contents
GENERAL NUTRITION CENTERS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
In May 2009, the FASB issued a standard on subsequent events which establishes general standards of accounting for and disclosing of
events that occur after the balance sheet date but before financial statements are issued or are available to be issued. The intent of this
standard is to incorporate accounting guidance that originated as auditing standards into the body of authoritative literature issued by the FASB
which is consistent with the FASB's objective to codify all authoritative U.S. accounting guidance related to a particular topic in one place. The
Company adopted this standard during the second quarter of 2009; the adoption did not have any impact on its consolidated financial
statements. In September 2009, the FASB issued an update to the standard on income taxes. This update adds to the definition of a tax
position of an entity's status, including its status as a pass-through entity, eliminates certain disclosure requirements for non-public entities, and
provides application for pass-through entities. The adoption of this standard did not have any impact on the Company's financial statements.
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