Status of Interpretation No. 45

Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others—an interpretation of FASB Statements No. 5, 57, and 107 and rescission of FASB Interpretation No. 34


November 2002

Effective Date:
Prospectively for guarantees issued or modified after December 31, 2002, for initial recognition and initial measurement provisions; for financial statements of interim or annual periods ending after December 15, 2002, for disclosure requirements

Supersedes FIN 34

Affected by:
Paragraph 3 amended by FSP FIN 45-3, paragraph 5
Paragraph 6 amended by FSP EITF 00-19-2, paragraph 15, and FSP FAS 133-1/FIN 45-4 paragraph A2(a)
Paragraph 6(d) amended by FAS 163, paragraph C4
Paragraphs 7(a) and 13(a) amended by FSP FAS 133-1/FIN 45-4, paragraphs A2(b) and A2(c) respectively
Paragraph 7(c) amended by FAS 141(R), paragraph E4(a), and FAS 164, paragraph E18
Paragraphs 9(a) and 9(b) amended by FAS 157, paragraph E28
Paragraph B1 amended by FAS 162, paragraph B12
Footnote 3 effectively amended by FAS 156, paragraph A10

Other Interpretive Releases:
FASB Staff Positions FIN 45-1 through FIN 45-3
FASB Staff Position FAS 133-1/FIN 45-4

AICPA Accounting Standards Executive Committee (AcSEC)

Related Pronouncement:
SOP 94-6

Note: Amendments as a result of the issuance of FAS 163 are effective for financial statements issued for fiscal years beginning after 12/15/08 and interim periods within those fiscal years.
||Note: Amendments as a result of FAS 162 are effective 60 days following the SEC’s approval of the PCAOB’s amendments to AU Section 411, The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles.

Abbreviations for Accounting Pronouncements
FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides