Proposed Statement: Accounting for Hedging Activities, an amendment of FASB 133

   Scope
 The proposed Statement would amend FAS 133 to a) simplify accounting for hedging activities, b) make the accounting model and disclosures more useful and easier to understand, c) resolve practice issues related to current hedging rules, and d) address differences between recognition and measurement of the derivative instrument and the hedged item.
 The scope of the [...]

EITF 08-03 – Accounting by Lessees for Maintenance Deposits

EITF 08-03 is effective for fiscal years beginning after December 15, 2008 and any changes are to be reflected as an adjustment to opening retained earnings.
 Under certain equipment lease agreements, a lessee is responsible for the repair and maintenance of the leased asset.  The lease agreement may stipulate that the lessee is to make deposits [...]

EITF 07-5 “Determining Whether an Instrument (or Embedded Feature) is Indexed to an Entity’s Own Stock”

EITF 07-5 is effective for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years.  It should be applied to outstanding instruments as of the beginning of the fiscal year in which it is adopted.  Any adjustment would be recognized in the opening balance of retained earnings.
The objective of EITF 07-5 [...]

FSP APB 14-1 – Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (including Partial Cash Settlement)

Paragraph 12 of APB 14, Accounting for Convertible Debt and Debt Issued with Stock Purchase Warrants, states that the conversion feature of the debt should not be accounted for separately and that all of the proceeds from the issuance of the debt should be allocated to the liability.  This FSP clarifies that convertible debt instruments [...]

Proposed FSP ARB 43-a – Amendment of the Inventory Provisions of Chapter 4 of ARB No. 43

The purpose of Proposed FSP ARB 43-a – Amendment to the Inventory Provisions of Chapter 4  of ARB No. 43 (FSP) is to address the inconsistency between the AICPA Audit and Accounting Guide, Brokers and Dealers in Securities and Investment Companies and ARB No. 43, Chapter 4, Inventory Pricing.  ARB 43 requires that inventory be [...]

FSP EITF 03-6-1 – Determining Whether Instruments Granted in Share-Based Payment Transaction are Participating Securities

FSP EITF 03-6-1 (FSP) is effective for fiscal years beginning after December 15, 2008 and is to be applied retrospectively.  This means that all comparative data has to be shown as if this FSP was in effective from the beginning.
This FSP requires share based compensation awards that qualify as participating securities to be included in [...]

FAS 161 – Disclosures about Derivative Instruments and Hedging Activities, an amendment to FAS 133

I didn’t think I would ever get this blog done.  Some of the tables are too wide for this format.  Please go to www.fasb.org, the Statement has some lovely examples of the disclosures that are required.
The objective of FAS 161 – Disclosures about Derivative Instruments and Hedging Activities, an amendment to FAS 133 is to [...]