DISTINCTIONS OF DEBT AND EQUITY CLARIFIED.FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). issued a proposed statement that would establish accounting standards for financial instruments with characteristics of liabilities, equity or both. Comments on the proposed statement are requested by March 31, 2001. "Financial reporting has always had difficulty dealing with financial instruments that blur blur (blur) indistinctness, clouding, or fogging. spectacle blur the indistinct vision with spectacles occurring after removal of contact lenses, especially non–gas-permeable lenses; it is the line between debt and equity, especially compound instruments like convertible debt that combine both debt and equity components," explains FASB Senior Project Manager Diana Diana, in Roman religion Diana (dīăn`ə), in Roman religion, goddess of the moon, forests, animals, and women in childbirth. She was probably originally a forest goddess and a special patroness of women. Willis Wil·lis , Thomas 1621-1675. English anatomist and physician known for his studies of the nervous system and the brain. He discovered the circle of Willis at the base of the brain. . "This proposed statement would clarify the distinction between debt and equity." During the comment period, a copy of the proposal will be available free from the FASB order department by calling (800) 748-0659. The proposal is also available at: http://www.rutgers.edu/Accounting/raw/fasb/new/index.html, under Exposure Drafts. |
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