Accounting for Futures Contracts

Status

Issued:
August 1984

Effective Date:
For futures contracts entered into after December 31, 1984.
Disclosures required shall be made in financial statements for periods ending after December 15, 1984 for open futures contracts designated as hedges whether the other provisions of FAS 80 have been applied to those contracts or not.

Affects:
Supersedes FTB 81-1

Affected by:
Paragraph 5 amended by FAS 115, paragraph 129, and FAS 130, paragraph 30
Superseded by FAS 133, paragraph 525(a)

Other Interpretive Release:
FASB Highlights, "Futures Contracts: Guidance on Applying Statement 80," June 1985 (Resolves EITF Issue No. 85-6) (Nullified by FAS 133)


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