Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity
StatusIssued:
May 2003
Effective Date:
For financial instruments entered into or modified after May 31, 2003; otherwise effective at the beginning of the first interim period beginning after June 15, 2003, except for mandatorily redeemable financial instruments of nonpublic entities which are subject to the provisions of this Statement for the first fiscal period beginning after December 15, 2003
Affects:
Amends FAS 128, paragraph 24
Amends FAS 133, paragraphs 11 and 12(c)
Affected by:
Paragraph 16 amended by FAS 141(R), paragraph E30
Paragraph 17 amended by FAS 123(R), paragraph D16
Paragraph 17A added by FSP EITF 00-19-2, paragraph 14
Paragraph C3 amended by FAS 162, paragraph B4
Paragraph D1 amended by FAS 123(R), paragraph D16, and FAS 157, paragraph E26
Footnote 9 deleted by FAS 141(R), paragraph E30
Other Interpretive Releases:
FASB Staff Positions FAS 150-1 through FAS 150-5
Issues Discussed by FASB Emerging Issues Task Force (EITF)
Affects:
Nullifies EITF Issues No. 98-12 and 00-4
Partially nullifies EITF Issues No. 86-32, 88-9, 89-11, 00-6, 00-19, and 00-27 and Topics No. D-42, D-72, and D-98
Resolves EITF Issue No. 01-11
Partially resolves EITF Issues No. 84-40 and 02-2
Interpreted by:
No EITF Issues
Related Issues:
EITF Issues No. 97-8, 97-15, 98-5, 01-6, 05-4, 07-2, and 08-4 and Topic No. D-98
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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.
||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