FASB issues Statement no. 150, Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity (available for download at www.fasb.org/FAS150.shtml), to improve the accuracy of securities issuers' accounting for such financial instruments. (Accounting).* FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). issues Statement no. 150, Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity (available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. at www.fasb.org/FAS150.shtml), to improve the accuracy of securities issuers' accounting for such financial instruments. Earlier guidance allowed companies to classify clas·si·fy tr.v. clas·si·fied, clas·si·fy·ing, clas·si·fies 1. To arrange or organize according to class or category. 2. To designate (a document, for example) as confidential, secret, or top secret. as equity instruments possessing debt-like attributes. But the new statement--effective for financial instruments entered into or modified after May 31--establishes standards requiring financial reports to present such items as liabilities. For earlier transactions, it takes effect at the start of the first interim period beginning after June 15. Nonpublic entities' mandatorily redeemable Redeemable Eligible for redemption under the terms of an indenture. financial instruments, however, are subject to the new provisions in the fiscal period beginning after December 15. Printed copies of the statement are available for $14.50 each from FASB at 800-748-0659. |
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