Accounting by Debtors and Creditors for Troubled Debt Restructurings

Status

Issued:
June 1977

Effective Date:
For troubled debt restructurings consummated after December 31, 1977

Affects:
Amends APB 26, paragraphs 2 and 3(a)
Supersedes FIN 2

Affected by:
Paragraph 1 amended prospectively by FAS 114, paragraph 22(a)
Paragraph 4 amended by FAS 135, paragraph 4(i)
Paragraph 9 deleted by FAS 71, paragraph 26(r)
Paragraph 13 amended by FAS 145, paragraph 7(b); FAS 149, paragraph 30 and FAS 157 paragraph E5(b)
Paragraphs 15, 17, 25(b), and 25(d) amended by FAS 145, paragraph 7(b)
Paragraph 21 deleted by FAS 145, paragraph 7(b)
Paragraph 28 amended by FAS 121, paragraph 24; FAS 144, paragraph C24; and FAS 157 paragraph E5(c)
Paragraph 30 replaced prospectively by FAS 114, paragraph 22(b)
Paragraphs 31, 32, 35 through 37, 40(a), and 41 and footnotes 18, 19, 21, 24, and 25 deleted prospectively by FAS 114, paragraph 22(f)
Paragraphs 33, 34, and 42 amended prospectively by FAS 114, paragraphs 22(c), 22(d), and 22(e), respectively
Paragraph 33 amended by FAS 121, paragraph 24, and FAS 144, paragraph C24
Footnote 2 deleted by FAS 157, paragraph E5(a)
Footnote 5 amended by FAS 141, paragraph E6, and FAS 141(R), paragraph E13(a)
Footnote 5a added by FAS 149, paragraph 30, and deleted by FAS 157, paragraph E5(b)
Footnote 6 amended by FAS 141, paragraph E6
Footnote 6 deleted by FAS 157, paragraph E5(b)
Footnote 10 amended by FAS 165, paragraph B5
Footnote 16 amended by FAS 141, paragraph E6, and FAS 141(R), paragraph E13(b)
Footnote 20 deleted by FAS 111, paragraph 9(d)
Footnote 26 amended by FAS 111, paragraph 9(d)

Other Interpretive Pronouncements:
FTB 79-6 (Superseded by FAS 114)
FTB 79-7 (Superseded by FAS 114)
FTB 80-1
FTB 80-2
FTB 81-6
FTB 94-1

AICPA Accounting Standards Executive Committee (AcSEC)

Related Pronouncements:
SOP 90-7
SOP 93-1
PB 4

Issues Discussed by FASB Emerging Issues Task Force (EITF)

Affects:
No EITF Issues

Interpreted by:
Paragraphs 28 and 34 interpreted by EITF Issues No. 87-18 and 87-19
Footnote 1 interpreted by EITF Issue No. 91-2

Related Issues
EITF Issues No. 84-19, 85-44, 89-14, 94-8, and 02-4 and Topic No. D-4

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^*Note: Amendments as a result of the issuance of FAS 141(R) are effective for business combinations with an acquisition date on or after the beginning of the first annual reporting period beginning on or after 12/15/08.


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