FASB issues Statement on Derivative Instruments.
The Financial Accounting Standards Board Financial Accounting Standards Board (FASB)
Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). has issued Statement No. 149, Amendment of Statement 133 on Derivative Instruments Derivative instruments
Contracts such as options and futures whose price is derived from the price of an underlying financial asset. and Hedging Activities, which amends and clarifies accounting for derivative instruments, including certain derivative instruments embedded Inserted into. See embedded system. in other contracts, and for hedging activities under Statement 133.
Statement 149 is effective for contracts entered into or modified after June 30, 2003, with some exceptions for hedging relationships designated after June 30, 2003. The guidance should be applied prospectively. Copies of Statement 149 may be obtained through the FASB FASB
See: Financial Accounting Standards Board
FASB
See Financial Accounting Standards Board (FASB). Order Department at 800/748-0659 or by placing an order on the FASB Web site at www.fasb.org.
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